IPOs of private companies expected in the first quarter of 2022

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The head of the Egyptian Stock Exchange, Dr. Mohamed Farid, confirmed in an interview with Al Arabiya that the e-finance offering and the large coverage volume confirms the market’s thirst for initial offerings.

He described the high demand for the offering from local and international investors, whether individuals or institutions, reflecting the extent of the capital markets’ thirst for new proposals, especially for companies with large sizes, and good financial performance such as “E-Finance”, whose offering of 5.8 billion pounds represented a message on the market’s ability. Accommodation of a number of proposals of various sizes.

Farid pointed out that a number of private sector companies Preparing for offerings on the stock exchange in the first quarter of next year 2022 He explained that the offering of public companies is subject to the decision of the competent committee in this regard.

Trading in the shares of E-FINANCE for financial and digital investments started today, and the purchase orders before the start of trading were at 36 pounds, noting that the company had offered about 26% of its shares in a public and private offering at a price of 13.98 pounds per share.

The public offering tranche included more than 25 million shares, representing about 6% of the total shares offered and 1.6% of the company’s total shares.

As for the private offering, it included 392 million shares, representing 94% of the shares offered for sale and 24.5% of the company’s total issued shares.

The share of “E-Finance” jumped by 42% within the first hour of trading the stock on the Egyptian Stock Exchange, reaching the level of 19.590 pounds, with a trading volume of 41.5 million shares, worth 813.4 million pounds, through the implementation of 5719 deals.

Today, trading on the company’s shares began at a price of 13.98 pounds per share, with a market value of 22.37 billion pounds, and this came after covering the subscription in the public offering for individuals on Sunday, with a coverage rate of 61.4 times

The private placement tranche was covered 6.8 times last week, bringing the company about 5.8 billion pounds from offering a share of 26.1% of the company’s capital, making it the largest offering on the Egyptian Stock Exchange in years.

The subscription in the public offering of individuals was officially closed last Sunday, with a coverage rate of 61.4 times, and the private offering tranche was covered last week by about 6.8 times, and the public offering exceeded all shares offered for both institutions and individual investors with coverage amounted to 10.2 times.





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