Cairo – Mubasher: Ibnsina Pharma has set the final price of its initial public offering (IPO) on the Egyptian Exchange (EGX) at EGP 5.8 per share for institutions and individuals to sell 229 million shares.
The IPO has been oversubscribed 17.1 times through more than 500 institutions and individuals, Ibnsina said in a statement on Tuesday.
The company’s trading on EGX is due Tuesday, 12 December, and with a market capitalisation of up to EGP 3.9 billion, the firm noted.
The company pointed out that subscription will end on Thursday, 7 December.
It is worth mentioning that the OPR market has taken place last Tuesday to receive Ibnsina’s IPO subscriptions until 7 December.
Ibnsina will sell 40.4 million shares in the IPO at a minimum of 100 shares and a maximum of 900,000 shares, the company highlighted.
In November, Ibnsina set an indicative price ranges between EGP 5.21 and 5.95 per share to sell 40% or 269 million shares.
On 8 November, the EGX approved the initial listing of Ibnsina with an issued share capital of EGP 168 million distributed over 672 million shares at a par value of 25 piasters per share.
Moreover, Belton Financial Holding is managing Ibn Sina’s IPO on the EGX.
