Egypt’s top digital firm Fawry shares 29% up in first trading day

Egyptian top digital payments company Fawry’s shares rose  29 percent to 8.33 Egyptian pounds ($0.5) in its first day of trading on the Egyptian stock exchange on Thursday.

The initial public offering (IPO) was oversubscribed 30.3 times at a price of 6.46 Egyptian pounds, data from the stock exchange showed.

Fawry listed 36 percent of its share capital and was advised by investment bank EFG Hermes.

Source: Reuters