President Abdel Fattah El-Sisi previously announced the company’s IPO back in 2021 and was noted as potentially the country’s largest initial public offering in its history
EGX clarified in a filing that the public offering registered LE76.06 million through 5.06 million shares, and the private offering amounted to LE 1.6 billion through 96.18 million shares.
The private offering of the cigarette company was oversubscribed by 1.8 times at price of LE 17 which exceeds the company’s share price on Thursday by 3 percent.
Private offering recorded demands of LE 6.5 billion.
The company offered 28,089,457 existing ordinary shares at a price of LE 22.60 per ordinary share.