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The offering included 36% stake, which represents 21% of its capital.
IPO to close tomorrow, trading begins on Thursday
Fawry’s IPO is likely to boost hopefulness in market, Eid holiday signals calm trading
EFG Hermes conducted EGP 8.2bn of transactions thanks to institutions deals
Bidding unit was market demand to increase turnover of small securities, says EGX chairperson
The EGX welcomes all new financial products that can attract new segments of investors as long as they are consistent with the EGX rules and procedures.
Most of this liquidity will come from Fawry IPO which is expected to energise the Egyptian Exchange (EGX), increasing the chances of profit through the expected rise in stock prices.
Company to implement insurance brokerage requests electronically in 4Q19, revenues expected to reach EGP 869.4m by year-end
Furthermore, according to the statement, shares offered in connection with the institutional offering and the Egyptian retail offering will be offered and sold at the same price (offer price).
Current share prices offer ideal opportunity for long-term investor, says Naeem Brokerage
21% for strategic investors, between 15-19% stake for IPO and private placement
EGX expected to continue fluctuating in coming sessions
FV of company’s shares being determined before approval, completion of offering procedures: Okasha
Mubasher aims to expand in Upper Egypt, says Sadek
Buying selected stocks amid possibility of correcting index towards 13,900
Weak efficiency of EGX in creating market for exiting reduces chances of attracting direct investments
Absence of stimulus, positive news, foreign sales and trade escalation weaken the market’s attractiveness
US-China trade conflict is confusing investors
Technological culture strongly prevalent in Egypt, allows building strong digital financial system
Average capital of target companies is EGP 700m
Pharos expects main index to pass 13.800 points supported by decline in sales
Brokering companies should now prepare themselves to meet requirements, says EGX chief
Stamp tax on EGX at max of 10% of profits, says ECMA chairperson
The main index EGX30 fell by 5.5% last week to 14,035 points, in its largest weekly decline since December.
We will promote use of financial technology in Arab stock exchanges to counter informal markets: Farid
Women’s unemployment rate decreased from 24% in 2014 to 19.6% in Q1 of 2019, says Morsi
Total bank assets increase to EGP 351.68bn until end-March
Egypt receives AFE secretariat for this year
EGX30 index has short-term resistance at 15,262-15,320 points
Benchmark EGX30 index has resistance at 13,580 and 13,622 points