Sarwa Capital’s IPO on EGX raises EGP 2.1bn

Sarwa Capital’s IPO on EGX raises EGP 2.1bn
The IPO has been executed through 29.5 million shares
Sarwa Capital Holding
SRWA
-1.13% 6.15 -0.07

Cairo – Mubasher: The Egyptian Exchange (EGX) on Thursday said that the initial public offering (IPO) and the private offering of Sarwa Capital have been implemented at a combined value of EGP 2.17 billion.

The IPO has been executed through 29.5 million shares, or 4.7% of the company’s capital at a value of EGP 217.2 million, the Egyptian bourse highlighted in a statement.

As for the private offering, it has been conducted through 265.6 million shares, or 42.5% of the company’s capital, at a total value of EGP 1.9 billion, according to the statement.

On Wednesday, the Egyptian bourse said that Sarwa Capital’s IPO had been oversubscribed by nearly 30.1 times.

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.