By: Ahmed Allam
Cairo- Mubasher: Fawry, the e-payment network, has approved offering around 36% of the company’s capital to trade on the Egyptian Exchange (EGX), Fawry’s Cheif Financial Officer (CFO) Abdel Meguid Afifi stated.
The offering will be executed through two tiers; a 31% of the capital as a private placement, as well as a 5% representing public offering, Afifi told Mubasher on Sunday.
The CFO predicted that the Egyptian Financial Regulatory Authority (FRA) will not object to publish the offering prospectus during this week.
Fawry’s financial manager further expected that all of the offering procedures would be finalised during August 2019.
Translated by: Amal A. Wahaab
