Cairo - Mubasher: The Egyptian Exchange (EGX) said that trade on the stock of MM Group will begin in Tuesday’s session, with an opening price of EGP 5.96 per share.
The bourse said in a statement on Sunday that the special transactions market will be opened for 30 days, from Tuesday, 11 April, until the end of the session on Wednesday, 10 May.
The EGX also noted that during this period the issuance manager will register an open purchase order at the public price of EGP 5.96 per share, and that only the buying shareholder from the initial public offering (IPO) is entitled to sell at the maximum number of shares.
In a seperate statement, the EGX said that the public offering was carried out on 17.8 million shares, while the private offering saw 100.98 million shares, at a total value of EGP 708.04 million.
MM Group’s IPO has been oversubscribed 19 times, as the offers’ volume reached 343.38 million shares by the end of last Thursday.
The company’s capital before the IPO amounted to EGP 396 million, distributed over 396 million shares at a par value of EGP 1 per share.
