Egyptian digital payment firm Fawry sets IPO price at EGP 6.46
Saturday, 07 27 2019, Category: Technology, Country: Egypt
Egyptian digital payment company Fawry has set the price for its initial public offering (IPO) at 6.46 Egyptian pounds ($0.3906), it said on Friday.
The company said it is planning to offer 254.6 million ordinary shares, representing 36% of its share capital, on the Egyptian stock market.
Investment bank EFG Hermes, which is managing the listing, announced the listing plan on Sunday but gave no indication of the expected offer price.
EFG Hermes said the offering will include a private placement for institutional investors and an IPO for retail investors in Egypt at the same price.