Cairo – Mubasher: Egypt- South Africa for Communication - Egysacom announced that its initial public offering (IPO) on Nile Stock Exchange for small-and-medium enterprises (SMEs) covered 10.28 times.
A total of 65.69 million shares were subscribed in the IPO, at offering price of EGP 0.95 per share.
The EGX flotation represents around 20% or 31 million shares of Egysacom’s capital at par value of EGP 0.20 per share and a fair value of EGP 0.95 per share.
Egysacom’s profits dropped 57% to EGP 431,300 in H1-15, compared to figures from the same period in 2014.
