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e-finance sets record as Egypt's largest IPO

e-finance sets record as Egypt's largest IPO
Shares of e-finance opened at EGP 13.98 apiece
E-Finance
EFIH
-3.87% 22.11 -0.89

Cairo – Mubashere-finance For Digital and Financial Investments has debuted its trading on the Egyptian Exchange (EGX) on Wednesday under the ticker symbol of EFIH.CA. 

The fintech platform has set a record as the largest offering in Egypt with a value of EGP 5.8 billion, exceeding the offering of Telecom Egypt in 2014 which amounted to EGP 5.1 billion, according to a statement by the EGX on Wednesday. 

The public and private offerings of e-finance have been executed on 417.777 million shares, representing 26.10% of the company’s issued capital, at a total value of EGP 5.84 billion or EGP 13.98 per share.

The public offering has been carried out on 25.77 million shares, making up 6.17% of the offered shares for sale and 1.61% of total issued shares, while the private offering has been executed on 392 million shares, representing 93.83% of the shares offered for sale and 24.5% of total issued shares.

Shares of e-finance opened at EGP 13.98 apiece with a market cap of about EGP 22.4 billion.