Shell invests in Mina West gas development in Egyptian Mediterranean Sea    Egypt's FM highlights 'soft power' in Mali meeting with alumni    Egypt's foreign minister opens business forum in Niger, targets new partnerships    Egypt's FM delivers Al-Sisi message to Niger's leader, seeks deeper security ties    Rafah Crossing 'never been closed for one day' from Egypt: PM    Egypt will keep pushing for Gaza peace, aid: PM    Remittances from Egyptians abroad surge 70% YoY in July–May: CBE    Sudan's ambassador to Egypt holds reconstruction talks on with Arab League    Egypt's current account gap narrows, but overall BoP records deficit    Al-Sisi urges accelerated oil, gas discoveries, lower import bill    Egypt hosts international neurosurgery conference to drive medical innovation    Egypt's EDA discusses Johnson & Johnson's plans to expand investment in local pharmaceutical sector    I won't trade my identity to please market: Douzi    Sisi calls for boosting oil & gas investment to ease import burden    EGX to close Thursday for July 23 Revolution holiday    Egypt, Senegal sign pharma MoU to unify regulatory standards    Egyptian Drug Authority discusses plans for joint pharmaceutical plant in Zambia    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    Giza Pyramids' interior lighting updated with new LED system    Egypt's EHA, Huawei discuss enhanced digital health    Foreign, housing ministers discuss Egypt's role in African development push    Korea Culture Week in Egypt to blend K-Pop with traditional arts    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    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    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
Daily News Egypt 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.