E-Finance sets final price for Egypt IPO at EGP 13.98/share

Egypt’s leading fintech player, E-Finance has on Monday set the final price for its initial public and private offerings on the country’s stock exchange (EGX) at 13.98 Egyptian pounds ($0.89) per share.

The final deadline for placing orders for the initial public offering (IPO) is on October 17, the company added in a statement.

On Monday, the country’s Financial Regulatory Authority (FRA) approved a request by E-Finance to raise the number of the offered shares for sale to 417.77 million shares, representing 26.1 percent of the total shares, from 257.77 million shares or 16.1 percent of total shares.