Egypt's e-finance sets final price for IPO

The final deadline for placing orders for the initial public offering (IPO) is on October 17

  
A trader works at the Egyptian stock exchange in Cairo, Egypt September 23, 2019.

A trader works at the Egyptian stock exchange in Cairo, Egypt September 23, 2019.

REUTERS/Mohamed Abd El Ghany

Cairo – Mubasher: Egypt's e-finance For Digital and Financial Investments has set the final price for its initial public and private offerings on the Egyptian Exchange (EGX) at EGP 13.98 per share.

The final deadline for placing orders for the initial public offering (IPO) is on 17 October, according to a statement on Tuesday.

On Monday, the Financial Regulatory Authority (FRA) approved a request by e-finance to raise the number of the offered shares for sale to 417.77 million, representing 26.1% of the total shares, from 257.77 million shares or 16.1% of total shares.

During the first half (H1) of 2021, the e-payment firm logged consolidated net profits of EGP 275.56 million, up from EGP 152.45 million in the prior-year period, including minority shareholders' rights.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2021 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Equities