Egypt’s Fawry plans to offer up to 254 million ordinary shares representing 36 per cent of the company’s outstanding share capital to be listed on the Egyptian Exchange (EGX) currently owned by PSI Netherland Holding BV.
The e-payments firm received the registration approval from the Financial Regulatory Authority (FRA) to register the company in anticipation for a listing on EGX and offering of the shares in the combined offering this week.
Ashraf Sabry, Fawry’s Chief Executive Officer, said, “Fawry has succeeded in establishing an unparalleled network that serves and integrates consumers, merchants, and corporates through its digital payment enabling services.”
The company has appointed EFG Hermes as the sole global coordinator and bookrunner for the offering while Zulficar & Partners will serve as legal counsel.
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