Cairo – Mubasher: Sarwa Capital’s initial public offering (IPO) has been oversubscribed 30.1 times, the Egyptian Exchange (EGX) said on Wednesday.
Total purchasing orders on the private offering reached 887.4 million shares, the Egyptian bourse highlighted in a statement.
By the end of Wednesday’s trading session, subscription in the public offering, comprised of 29.5 million shares, was closed.
Sarwa Capital previously said that the private offering was oversubscribed 10.83 times, with 265.65 million shares offered at a value of EGP 1.96 billion.
The final price of the IPO was set at EGP 7.36 per share, while trading on the stock will begin as of Monday, 15 October, under the symbol of SRWA.CA following obtaining the approval of the EGX.