Cairo –  The Egyptian Exchange (EGX) said that the public and private offerings of e-finance for Digital and Financial Investments have been executed on 417.777 million shares, representing 26.10% of the company’s issued capital, at a total value of EGP 5.84 billion or EGP 13.98 per share.

The public offering has been carried out on 25.77 million shares, making up 6.17% of the offered shares for sale and 1.61% of total issued shares, while the private offering has been executed on 392 million shares, representing 93.83% of the shares offered for sale and 24.5% of total issued shares, the EGX said in a statement on Monday.

Trading on e-finance’s issued shares will start on 20 October at a price of EGP 13.98 per share.

The initial public offering (IPO) of e-finance has been oversubscribed by 61.36 times as purchasing orders have been placed on 1.58 billion shares.

Earlier, the company has set the final price for its initial public and private offerings on the EGX at EGP 13.98 per share.

In the first half (H1) of 2021, e-finance reported consolidated net profits of EGP 275.56 million, up by 80.7% year-on-year (YoY) from EGP 152.45 million in the prior-year period, including minority shareholders' rights.

Source: Mubasher

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