Foreign investors make up 72% of demand for e-finance's offering

Cairo – Mubasher: The offering of e-finance For Digital and Financial Investments has attracted strong demand from investors and investment funds from various countries such as the UAE, Saudi Arabia, Kuwait, the UK, the US, and Sweden, along with Egyptian investors, the Chairman and Managing Director of the fintech platform, Ibrahim Sarhan, said.

On the sidelines of a press conference on the occasion of the trading debut of e-finance on the Egyptian Exchange (EGX) on Wednesday, Sarhan revealed that foreign investors accounted for 72% of demand for the offering, while Egyptian investors made up the remaining 28%. 

Earlier, e-finance has set the final price for its initial public and private offerings on the EGX at EGP 13.98 per share. 

The initial public offering (IPO) of e-finance has been oversubscribed by 61.36 times as purchasing orders have been placed on 1.58 billion shares.

The EGX said that the public and private offerings of e-finance for Digital and Financial Investments have been executed on 417.777 million shares, representing 26.10% of the company’s issued capital, at a total value of EGP 5.84 billion or EGP 13.98 per share.

Mubasher Contribution Time: 20-Oct-2021 10:03 (GMT)
Mubasher Last Update Time: 20-Oct-2021 10:03 (GMT)