Cairo – Mubasher: Act Financial has started trading on the main market of the Egyptian Exchange (EGX) after increasing its capital by EGP 1.04 billion through issuing 360 million shares.
The company’s market capitalisation has reached more than EGP 3.24 billion at the offering price of EGP 2.90 per share, according to a bourse filing.
Act Financial offered 300 million shares in a private placement, attracting over EGP 17.60 billion worth of orders and being oversubscribed by 20.20 times.
The public offering included 60 million shares and was oversubscribed by 54.70 times after receiving EGP 9.50 billion in orders.
It is worth noting that the private offering took place from 9 to 18 July, while the public subscription was open from 9 to 23 July.
