China's PBC issues 449.2b yuan off reverse repo    H. Kong exports to Asia surge in June '25    H. Kong's trade volume jumps in June '25    Egypt's anti-drug body launches new awareness phase in Maspero Triangle    Agiba Petroleum starts production from Arcadia-28 at 4,100 BOE/day    Minister El-Shimy pushes for stronger returns, partnerships in real estate, construction sectors    Apparel, textile chambers engage with Chinese delegation to explore investment opportunities in Egypt    Egypt reviews health insurance funding mechanism to ensure long-term sustainability    Obama calls for aid access to Gaza, says 'no justification' for withholding food    Gaza on verge of famine as war escalates, ceasefire talks stall    Gaza crisis, trade on agenda as Trump hosts Starmer in Scotland    Egyptian president follows up on initiatives to counter extremist thought    Indian Embassy to launch cultural festival in Assiut, film fest in Cairo    Egyptian aid convoy heads toward Gaza as humanitarian crisis deepens    Culture minister launches national plan to revive film industry, modernise cinematic assets    Sudan's ambassador to Egypt holds reconstruction talks on with Arab League    I won't trade my identity to please market: Douzi    Egypt welcomes 25-nation statement urging end to Gaza war    Sisi sends letter to Nigerian president affirming strategic ties    Egypt, Senegal sign pharma MoU to unify regulatory standards    Two militants killed in foiled plot to revive 'Hasm' operations: Interior ministry    Egypt, Somalia discuss closer environmental cooperation    Egypt foils terrorist plot, kills two militants linked to Hasm group    Egypt's EHA, Huawei discuss enhanced digital health    Foreign, housing ministers discuss Egypt's role in African development push    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Sarwa Capital to start trading its shares on EGX 15 October, EGP 7.04 to EGP price range
Company concluded roadshow spanning US, UK, South Africa, GCC with strong interest for Offering from local, international investors
Published in Daily News Egypt on 02 - 10 - 2018

Sarwa Capital, the provider of consumer and structured finance solutions in Egypt, announced during a press statement, that it is expected to start trading its shares on the Egyptian Exchange (EGX) on or around 15 October 2018.

"The indicative price range for the Offering has been set between EGP 7.04 to EGP 8.00 per share, giving a total offering size between EGP 2.1bn to EGP 2.4bn," the company explained.

Sarwa Capital announced further the indicative price range for an offering of 295,170,731 ordinary shares on the EGX, representing 47.2% of the company's total issued share capital, following the approval by the Egyptian Financial Regulatory Authority of its Public Subscription Note.

Moreover, the retail offering subscription will run for a week, during the period from 3 October to 10 October 2018.

The company explained that the shares will be offered in two tranches; a retail offering of 29,517,073 shares to individual investors, representing 10% of the Offering (the Retail Offering) and a private offering of 265,653,658 shares to qualified institutional investors representing 90% of the Offering (the Institutional Offering).

Following the Offering, the selling shareholders will use a portion of the Offering proceeds to subscribe to EGP 700m in a closed subscription at the offer price.

Furthermore, the final offer price will be determined in accordance with a book-building process and is expected to be announced on or around 4 October 2018, according to the statement.

Sarwa Capital has successfully concluded a local and international roadshow spanning the US, UK, South Africa, and GCC with a strong interest for the Offering from local and international investors.


Clic here to read the story from its source.