Cairo-Mubasher: Egypt- South Africa for Communication will start trading on the Nile Stock Exchange( NILEX) on 21 September and the opening price will be similar to the IPO's offer price of EGP 0.95, said a bourse statement.
Meanwhile, the Egyptian Exchange announced Thursday executing the company’s share offering at a total value of EGP 6.1 million.
Earlier, Egysacom announced that its initial public offering (IPO) on NILEX was covered 10.28 times.
A total of 65.69 million shares were subscribed in the IPO, at offering price of EGP 0.95 each.
The share flotation represents around 20% or 31 million shares of Egysacom’s capital.
Egysacom’s profits dropped 57% to EGP 431,300 in H1-15, compared to EGP 1 million in the same period in 2014.
