Subscription for Egypt’s e-finance IPO closes

The state-owned company is offering 1.61% of its shares to the public, or 25.78mln

  
Traders work at the Egyptian stock exchange in Cairo, Egypt February 13, 2018.

Traders work at the Egyptian stock exchange in Cairo, Egypt February 13, 2018.

REUTERS/Amr Abdallah Dalsh
DUBAI: The subscription period for the initial public offering of Egypt’s e-finance for Digital and Investments ended on Sunday.

The period started on Oct. 10, with a maximum price of $0.89 per share.

The state-owned company is offering 1.61 percent of its shares to the public, or 25.78 million, in the transaction that is expected to reach 3.6 billion Egyptian pounds ($229 million).

Last week, e-finance raised the percentage of the institutional offering to 23.5 after a strong demand for subscription.

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