Cairo – Mubasher: The Egyptian Exchange (EGX) announced Thursday that shares of Emaar Misr for Development will be listed starting Sunday, 5 July.

The stock market will list the company’s shares of increasing authorised capital to EGP 10 billion from EGP 4.5 billion and issued capital to EGP 4.62 billion from EGP 4.02 billion.

The EGP 600 million increase is divided into 600 million shares at EGP 1 par value each.

The company said Sunday it set allotment ratio for its initial public offering at 2.78% per subscriber.

Upon closing, the second tranche of Emaar Misr IPO saw subscription to nearly 3.23 billion shares, or 36 times the total shares offered for individuals, which amount to 90 million shares or 15% of the floatation.

Emaar Misr said earlier its stock will debut on Cairo bourse under the ticker “EMFD.CA” starting 2 July.