Cairo – Mubasher: The Egyptian Exchange (EGX) on Thursday said that the initial public offering (IPO) of CI Capital Holding has been implemented at a value of EGP 1.7 billion.

The IPO has been executed through 225.6 million shares, or 54.84% of the company’s capital at EGP 7.7 a share, the EGX highlighted in a statement.

The IPO has been implemented through 22.5 million shares at a total value of EGP 173.7 million, while the private subscription has been conducted through 204.07 million shares at a combined value of EGP 1.5 billion, according to the statement.

The Egyptian bourse had announced that CI Capital’s IPO has been oversubscribed by 29.5 times, while the private offering, valued at EGP 1.56 billion, was oversubscribed by 6.1 times.

The EGX had also said that the final price of the IPO had been set at EGP 7.70 per share.

Egyptian investment bank 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 shares on the EGX.