By: Heba El-Kordy
Cairo – Mubasher: Cairo Investment and Real Estate Development's stock has attracted nearly 45% of the liquidity in the Egyptian Exchange (EGX) during its first trade session on Monday.
By 1:00 pm Cairo time, the stock jumped 18.33% to EGP 7.1.
Around 43.24 million shares were traded on the stock at a turnover of EGP 304.9 million.
Meanwhile, the benchmark EGX30 index rose by 1.03% to 14,465.85 points.
The EGX previously stated that trading on Cairo Investment’s stock is set to commence as of 1 October.
The initial public offering (IPO) of Cairo Investment was oversubscribed by 18.87 times.
In September, Cairo Investment said it had set an indicative price ranging between EGP 5.45 and EGP 6.3 per share to its stake offered for sale on the Egyptian bourse.
