By: Heba El-Kordy
Cairo – Mubasher: CI Capital Holding’s stock climbed by 21.43% during the first minutes of its first trading session on the Egyptian Exchange (EGX).
By 10:05 am Cairo time, the stock jumped to EGP 31.9, with a turnover of EGP 95.8 million exchanged through 10,500 shares.
Meanwhile, the benchmark EGX30 index inched up 0.09% to 18,321 points.
The EGX had previously announced that trading on CI Capital’s stock would start as of 30 April.
It is worth noting that the initial public offering (IPO) and the private offering of CI Capital had been implemented at a combined value of EGP 1.7 billion through 225.6 million shares, or 54.84% of the company’s capital at EGP 7.7 a share.
The IPO has been implemented through 22.5 million shares at a total value of EGP 173.7 million, while the private offering has been conducted through 204.07 million shares at a combined value of EGP 1.5 billion.
The Egyptian bourse had announced that CI Capital’s IPO has been oversubscribed by 29.5 times, while the private offering, valued at EGP 1.56 billion, was oversubscribed by 6.1 times.
The EGX had also said that the final price of the IPO had been set at EGP 7.70 per share.
Egyptian investment bank CI Capital had previously set an indicative price ranges between EGP 7.29 and 8.26 per share to a stake of the company’s shares on the EGX.
Translated by: Mai Ezz El-Din
