CAIRO - 25 May 2026: The Egyptian Exchange (EGX) announced that the public offering of Korra Energi was oversubscribed by 31.35 times, reflecting strong demand for the company’s shares in one of the most closely watched listings of the year.
The exchange said total purchase orders submitted through the special deals market (OPR) reached about 3.1 billion shares, significantly exceeding the number of shares offered.
The OPR window was opened between May 18 and May 24 to register orders for the private placement tranche, which comprised 148.5 million shares, representing 60 percent of the total offering and allocated to qualified investors in Egypt.
Earlier, the company had reported that the private tranche was covered 2.7 times on the first day of subscription, signaling early strong appetite for the IPO.
The public offering tranche, representing 99 million shares or 40 percent of the total issue, remained open for subscription between May 19 and May 25.
Korra Energi is targeting proceeds of around LE735 million from offering 11 percent of its capital at LE2.97 per share, implying a 7.2 percent discount to its estimated fair value of LE3.20 per share, according to the prospectus.
The IPO marks the second listing on the Egyptian Exchange in 2026 after Gourmet Egypt debuted in February.
Korra Energi was established in 1997 under the name ConsuKorra Company, before being converted into a joint-stock company in 2009 and adopting its current name in 2024.
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