Cairo – Mubasher: Sarwa Capital Holding expects to begin trading its shares on the Egyptian Exchange (EGX) as of 15 October.

Subscription for its shares as part of an initial public offering (IPO) will begin on Wednesday, 3 October and end on Wednesday, 10 October, the company said in a statement.

Sarwa Capital will offer 295.17 million shares, representing 47.2% of its capital on two tranches.

The first tranche will be for 29.517 million shares or around 10% of its offering, while the second is for 265.6 million shares, representing 42.5% of Sarwa’s capital, and 90% of the IPO volume.

Sarwa Capital’s shares have been priced at EGP 8.5 per share for the IPO, it said.

The company previously launched regional and global roadshows spanning the United States, United Kingdom, South Africa, UAE, and Saudi Arabia.

In September, Sarwa Capital’s CEO Hazem Moussa told Bloomberg that his company was hoping that its valuation would reach $300 million ahead of its IPO on the EGX.

He added that his firm was looking to gain between $120 million and $125 million through the sale of 40% of its shares.