Egypt intends to offer 5-6 government companies on EGX during 21/22

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DOSSIER – Minister of Finance Mohamed Ma’it

CAIRO – October 20, 2021: Egypt is determined to continue the initial public offering (IPO) program to list around 5 or 6 state-owned companies on the stock exchange during the current fiscal year, according to the Minister of Finances, Mohamed Maait.

Maait spoke about the volume of demand for shares in the public offering of “e-finance for financial and digital investments”, with the participation of international investment funds from the UK and US and a number of number of other European countries, in a way that reinforces the state’s plans to increase the contribution of the private sector to the Egyptian economy; As a genuine partner to achieve inclusive and sustainable growth.

This happened during a meeting with the managing director of capital markets at the London Stock Exchange, Murray Ross, and Charlie Walker, head of primary markets at the exchange.

EGX on Wednesday received entry number 241 in the list of listed companies, e-finance for financial and digital investments, a leading company in the development, management and operation of technological networks for digital transactions.

The company will be listed under the symbol (EFIH.CA).

The latest EGX data revealed that e-finance for financial and digital investments topped the list of the biggest deals on the Egyptian stock exchange, with a value of LE 5.8 billion, topping the offer by 5 billion. , LE 2 billion from Telecom Egypt’s offer in 2005.

The public and private e-finance offering for financial and digital investments was completed for 417.77 million shares, representing 26.10 percent of the issued capital of the company, at a price of LE 13.98 per share in two tranches (public and private) with a total value of LE 5.84 billion.

The number of public offering shares spread over 25.77 million shares, representing 6.17% of the total shares offered for sale, representing 1.61% of the total issued shares of the company, while the number of private offering shares amounted to 392 million shares, representing 93.83% of the number of shares offered for sale, which represents 24.5% of the total issued shares of the company, bearing the market capital of “E-Finance” to approximately LE 22.4 billion, before the start of trading in the company’s shares on the stock exchange.

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