Cairo-Mubasher: The initial public offering (IPO) of Cleopatra Hospital was oversubscribed by 6.73 times, the Egyptian Exchange (EGX) said in a bourse statement.

Cleopatra Hospital has set the IPO price at EGP 9 per share, it added.

The subscription orders of the IPO reached an overall value of EGP 2.059 billion ($231.9 million), EGX noted.

It is noteworthy that the medical services provider has commenced receiving orders for its IPO on 22 May, up till 30 May.