The company was granted temporary listing approval by the EGX Listing Committee in March with issued capital of EGP 5 billion.
Radwan said the listing and offering of the two companies would expand investment options, broaden the shareholder base and provide a strong boost to trading activity and the exchange’s market capitalization.
The official said the investment banks managing the deal, in coordination with Banque Misr and the Central Bank of Egypt, agreed to delay the offering by three to four months due to ongoing geopolitical tensions in the Middle East, as well as weaker market activity during the summer period.
The review confirmed that the final settlement of subscriptions placed the private tranche coverage at 3.02 times, based on paid orders rather than initial subscription figures.
According to the EGX, total purchase orders recorded in the special deals market (OPR) reached around 3.1 billion shares.
