ICEC

Trading on Sarwa Capital on EGX commences Monday

Trading on Sarwa Capital’s stocks on the Egyptian Exchange (EGX) has started on Monday.

The company’s stock will open the session at 7.36 pounds per share, while its trading will not be restricted to price limits or temporary suspension mechanisms during this session only.

Trading on the stock will be subject to the rules of the stock market starting the second trading session.

The private deal market will be opened as of 15 October to 13 November based on the stability of the stock’s price.

The Egyptian Exchange (EGX) previously said Sarwa Capital’s initial public offering (IPO) was oversubscribed 30.1 times.

Total purchasing orders on the private offering reached 887.4 million shares, the Egyptian bourse highlighted in a statement.

Sarwa Capital previously said that the private offering was oversubscribed 10.83 times, with 265.65 million shares offered at a value of 1.96 billion pounds.

The final price of the IPO was set at 7.36 pounds per share, while trading on the stock will begin as of Monday, 15 October, under the symbol of SRWA.CA following obtaining the approval of the EGX.

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