The Minister of Planning and Economic Development in Egypt, Dr. Hala Al-Saeed, said that the Governmental IPOs Committee is studying the listing of a new company on the stock exchange before the end of this year.
The Minister added to Al Borsa newspaper, that the success of the E-Finance IPO and the increasing demand from investors is an encouraging factor for studying another company's offering, but she refused to disclose the name of the company. The company or the nature of its activity.
In a related context, the Financial Supervisory Authority agreed to increase the amount of shares offered by "E-Finance", to 417.8 million shares, equivalent to 26.1% of the company's capital, compared to With 257.8 million shares, representing 16.1% in the past. E-Finance asked the Financial Supervisory Authority to increase the total sale of shares due to increased demand.
E-Finance had intended to offer a 16.1% stake, representing 257.8 million shares, distributed over 80 million of its existing shares and offering 177.8 new ordinary shares. , but asked to increase it after the high demand for its shares.
The FSA said, "We have nothing to prevent an increase in the number of shares offered for sale." The Government Payments Company set the price range for the offering of its shares on the Egyptian Stock Exchange between 12.50 and 13.98 pounds per share.
