Cairo – Mubasher: Taaleem Management Services has debuted its trading on the Egyptian Exchange (EGX) on Wednesday with a share price of EGP 5.75 at the opening.

The higher education management company allocated 17.89 million shares or 5% of offered shares for natural persons in a public offering and 339.93 million shares or 95% of total offered shares for experienced institutional and retail investors with high financial solvency in a private placement, the EGX said in a statement on Wednesday.

The public offering was oversubscribed by 29.38 times, while the private offering was oversubscribed by 2.34 times.

Arab and foreign investors from the GCC region, the US, the UK, and South Africa accounted for 65% of the private offering.

Taaleem owns and operates Nahda University in Beni Suef (NUB), the largest private university in Upper Egypt, which has a capacity of about 11,000 students.