The official said the investment banks managing the deal, in coordination with Banque Misr and the Central Bank of Egypt, agreed to delay the offering by three to four months due to ongoing geopolitical tensions in the Middle East, as well as weaker market activity during the summer period.
The review confirmed that the final settlement of subscriptions placed the private tranche coverage at 3.02 times, based on paid orders rather than initial subscription figures.
According to the EGX, total purchase orders recorded in the special deals market (OPR) reached around 3.1 billion shares.
The newly approved companies include Misr Travel, Chemical Industries Development (CID), Egyptian General Company for Tourism and Hotels (EGOTH), and El Nasr for Fertilizers and Chemical Industries Co.
The company is seeking to list issued capital worth EGP 400 million, divided into 40 million shares at a nominal value of EGP 10 per share.
