Mubasher TV
Contact Us Advertising   العربية

Fawry’s retail offering oversubscribed by 30 times – Sources

Fawry’s retail offering oversubscribed by 30 times – Sources
Buy orders have been placed on 1.06 billion of Fawry’s shares
Fawry
FWRY
-0.62% 8.00 -0.05

By: Ahmed Allam

Cairo – Mubasher: The retail offering for the initial public offering (IPO) of Fawry for Banking Technology and Electronic Payment’s shares on the Egyptian Exchange (EGX) was oversubscribed by 30.3 times, informed sources told Mubasher.

Around 2,340 buy orders have been placed on 1.06 billion of Fawry’s shares, sources revealed.

Earlier, EFG Hermes announced that the institutional offering of the e-payment platform on the Egyptian bourse was oversubscribed by 15.9 times, generating EGP 7.1 billion ($431 million).

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