AT Lease retail offering was 28x oversubscribed

IPO WATCH- The retail offering tranche of Al Tawfeek Leasing Co. (AT Lease) shares was 28x oversubscribed for the 4.8 mn shares offered, according to Al Borsa. Pharos, the sole bookrunner and coordinator for the transaction, had said last Wednesday that The institutional offering was 40.16x oversubscribed for the 14.4 mn shares (or 75% of the shares offered), generating EGP 95.04 mn from investors. The final price for the share had been set at EGP 6.60 per share by the EGX.