By: Ahmed Allam

Cairo – Mubasher: A total of 881 buy orders were placed on 250.6 million of Fawry for Banking Technology and Electronics Payments’ shares in the initial public offering (IPO), sources told Mubasher.

The private placement of Fawry’s shares on the Egyptian Exchange (EGX) was oversubscribed by 15.9 times, generating EGP 7.1 billion ($431 million), EFG Hermes previously announced.

The offering includes 36% of Fawry’s shares at a final price of EGP 6.46 per share, according to a statement released on Thursday.

Trading on Fawry’s shares is expected to began on 8 August, while subscription to the company’s shares will end on 5 August.

Translated by: Zeinab Adel