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Integrated Engineering IPO covered 18.65 times

Integrated Engineering IPO covered 18.65 times
Photo Credit: Arabianeye-Reuters

Integrated Engineering Group’s initial public offering (IPO) has been covered 18.65 times, the company said in a bourse statement.

The IPO was covered through requesting 55.957 million shares, distributed across 351 purchasing orders.

The company earlier obtained the Egyptian Exchange’s (EGX) approval to float a 20% stake in its capital, or 3 million shares at EGP 0.60 per share.

The firm is capitalised at EGP 3 million, distributed across 15 million shares at EGP 0.20 par value each.