Cairo – Mubasher: The IPO of MB For Engineering and Contracting was covered 3.3 times in the third day.

Around 18.28 million shares were requested before two days of the closing date.

Meanwhile, 7.6 million shares out of 5.52 million were requested on the first day of the IPO, said Abd El-Aziz Abedel-Nabi.

The process of book building will end on 5 April 2016.

Earlier, the company decided to offer 5.52 million shares worth EGP32.8 million, or a stake of 27.6% on Cairo bourse at EGP5.95 a share.

Catalyst Partners is sponsoring the share offering, while Cairo Financial Investment is the independent financial advisor.

Sigma Capital is acting as the lead manager, while Mubasher for Securities and Arabeya Online are the assistant lead managers.