Cairo – Mubasher: Eastern Company’s non-public offering has been covered 1.8 times at EGP 17 per share, the Middle East News Agency (MEAN) said on Friday, citing the public enterprise minister Hisham Tawfik.

The public offering of the company will begin on Sunday, 3 March, and end on 5 March, the minister added.

Tawfik added that the private placement accounted for 95% of the total offered shares.

Egypt’s Financial Regulatory Authority (FRA) approved the offering of 4.5% stake in Eastern Co. on the Egyptian Exchange (EGX).