Egypt’s Juhayna offer oversubscribed
A private offering
of 164.8 million shares in Egypt’s Juhayna Food Industries was 1.75
times oversubscribed, the financial adviser to the placement said on
Sunday.
“The book closed
this morning, and we priced at 4.90 (Egyptian pounds, or $0.865), and
effectively this means that the public tranche will be priced at 4.66,”
said Karim Awad, head of investment banking at EFG-Hermes.
A public offering of 41.2 million shares began on Sunday morning and will continue until Thursday.
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