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CI Capital sets final IPO price at EGP 7.7 - EGX

CI Capital sets final IPO price at EGP 7.7 - EGX
The final price of the IPO has been set at EGP 7.70 per share
CI Capital Holding
CICH
-0.83% 4.79 -0.04

Cairo – Mubasher: The initial public offering of CI Capital on the Egyptian Exchange (EGX), worth EGP 1.56 billion, has been oversubscribed 6.1 times.

The final price of the IPO has been set at EGP 7.70 per share, the EGX said in a statement on Sunday.

The stock will be opened for public subscription during 22-24 April 2018 at EGP 9.27, according to a statement by CI Capital.

The Egyptian investment bank will sell 22.5 million shares in the IPO at a maximum of 5.5% shares for individuals and a 10% of the total offered to share sale, the company highlighted.

The Egypt-based firm said that the IPO minimum shares amounted to 100, while the maximum limit stood at 22 million shares.

On 15 March 2018, CI Capital said it was planning to offer around 43.6% stake of its capital on EGX.

CI Capital had previously set an indicative price ranges between EGP 7.29 and 8.26 per share to a stake of the company’s share on the EGX.