{"id":556112,"date":"2021-10-12T04:02:19","date_gmt":"2021-10-12T04:02:19","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/12\/e-finance-ups-its-share-offering-to-26-1\/"},"modified":"2021-10-12T04:02:19","modified_gmt":"2021-10-12T04:02:19","slug":"e-finance-ups-its-share-offering-to-26-1","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/12\/e-finance-ups-its-share-offering-to-26-1\/","title":{"rendered":"e-Finance ups its share offering to 26.1%"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>State-owned fintech firm e-Finance raised the size of its offering to <\/strong><strong>26.1% from 16.1%,<\/strong> the Financial Regulatory Authority (FRA) said in a <a href=\"https:\/\/ent.news\/2021\/10\/E-finance.pdf\">statement (pdf)<\/a>. The company raised the size of offering to institutional investors to 23.5% after demand amid very strong demand from fund and portfolio managers, one of the IPO quarterbacks told <a href=\"https:\/\/www.reuters.com\/article\/idUSC6N2QK017\">Reuters<\/a>. The company will now offer 417.8 mn shares instead of 257.8 mn originally. The subscription period for the institutional offering ended yesterday.<\/p>\n<p><strong>Meanwhile, t<\/strong><strong>he <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/981b7143-fd5f-4c5d-af04-adc6370c48bb\">subscription period<\/a><\/strong><strong> for the retail offering is ongoing <\/strong>and will continue to run until the close of the trading session on Sunday, 17 October. By our math, the size of the retail offering also appears to have been increased to 2.6% from the original allocation of 1.6%.<\/p>\n<p><strong>The company is expected to announce today how it will price the offering.<\/strong> At the EGP 12.50-13.98 range outlined in its price range release, the IPO will be one of the largest the country has seen in recent years: It could be worth as much as EGP 3.6 bn and value e-finance at up to EGP 22.37 bn.<\/p>\n<p><strong>Advisors:<\/strong> Renaissance Capital, CI Capital and Al Ahly Pharos are quarterbacking the transaction as co-lead managers. NI Capital is acting as the IPO advisor for the listing. Zaki Hashem & Partners has been appointed as counsel to e-Finance, while Norton Rose Fulbright is acting as US counsel to the co-lead managers. Inktank is the investor relations advisor.<\/p>\n<p><strong>IN OTHER IPO NEWS- Another state-owned company could offer shares on the EGX <\/strong><strong>before the year is out<\/strong>, Planning Minister Hala El Said said, according to this morning\u2019s <a href=\"https:\/\/ent.news\/2021\/10\/Tuesday-12-Oct-2021-issue-2670.pdf\">Al<\/a><a href=\"https:\/\/ent.news\/2021\/10\/Tuesday-12-Oct-2021-issue-2670.pdf\">Borsa print edition (pdf)<\/a>. El Said declined to name the company, which would go to market as part of the state privatization program. Public Enterprise Minister Hisham Tawfik <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b90b5254-2ce1-47f0-b1a9-f1082077ef28\">recently said<\/a> that e-Finance is the first among five state-owned companies currently prepping up to hit the bourse before the end of the state\u2019s fiscal year next June.<\/p>\n<p><strong>Who are the <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/eb7a605f-1344-4470-9dad-78f4cb493d20\">potential<\/a><\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/eb7a605f-1344-4470-9dad-78f4cb493d20\">candidates<\/a><\/strong><strong>? <\/strong>El Mahalla Spinning and Weaving Company\u2019s Ghazl El Mahalla sports club was previously said to be lined up for a state-led IPO to list around two-thirds of its shares on the EGX as early as this month. Banque du Caire had planned to debut 20-30% of its shares on the EGX in April 2020 but shelved plans due to the onset of the pandemic.<\/p>\n<p><strong>It may not even be an IPO: <\/strong>Already-listed Alexandria Containers, Abu Qir Fertilizers, and Sidi Kerir Petrochemicals have also pushed back sales of additional stakes in the companies.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>State-owned fintech firm e-Finance raised the size of its offering to 26.1% from 16.1%, the Financial Regulatory Authority (FRA) said in a statement (pdf). The company raised the size of offering to institutional investors to 23.5% after demand amid very strong demand from fund and portfolio managers, one of the IPO quarterbacks told Reuters. The [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":556113,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7224],"tags":[102,339,68,72,125,78],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-556112","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-capital-markets","tag-e-finance","tag-egx","tag-enterpriseam","tag-investment-watch","tag-ipo-watch","wpautop","entry"],"acf":{"mongo_id":"38a6850e-751d-4b79-b6cd-62dc9a9de56e","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/10\/127.jpg","photo_position":"above","related_issue":[556108],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>e-Finance ups its share offering to 26.1% - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/12\/e-finance-ups-its-share-offering-to-26-1\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"e-Finance ups its share offering to 26.1%\" \/>\n<meta property=\"og:description\" content=\"State-owned fintech firm e-Finance raised the size of its offering to 26.1% from 16.1%, the Financial Regulatory Authority (FRA) said in a statement (pdf). 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The bankers quarterbacking the transaction have yet to release official figures, but you\u2026","rel":"","context":"In &quot;IPO&quot;","block_context":{"text":"IPO","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/10\/190.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":703079,"url":"https:\/\/enterpriseam.com\/egypt\/2026\/05\/18\/korra-energi-opens-the-subscription-window-for-highly-anticipated-ipo\/","url_meta":{"origin":556112,"position":1},"title":"Korra Energi opens the subscription window for highly-anticipated IPO","author":"enterpriseam admin","date":"18 May 2026","format":false,"excerpt":"The subscription period for institutional investors kicks off today","rel":"","context":"In &quot;IPO WATCH&quot;","block_context":{"text":"IPO WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ipo-watch-2\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1029.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":548593,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/15\/ghazl-el-mahalla-has-another-two-weeks-to-land-its-micro-ipo\/","url_meta":{"origin":556112,"position":2},"title":"Ghazl El Mahalla has another two weeks to land its micro-IPO","author":"enterpriseam admin","date":"15 August 2022","format":false,"excerpt":"The retail component of Ghazl El Mahalla\u2019s IPO has been extended for another two weeks until 28 August due to weak investor demand, according to an EGXbulletin. Subscription was supposed to close yesterday, but the football club has so far only received bids for around 22% of the shares allocated\u2026","rel":"","context":"In &quot;IPO&quot;","block_context":{"text":"IPO","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/8\/246.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547663,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/03\/ghazl-el-mahalla-ipo-could-be-extended\/","url_meta":{"origin":556112,"position":3},"title":"Ghazl El Mahalla IPO could be extended","author":"enterpriseam admin","date":"3 July 2022","format":false,"excerpt":"Subscription to the retail offering in Ghazl El Mahalla\u2019s IPO has been extended until 13 August due to weak investor demand for the football club\u2019s shares, Al Borsa reports. The club was originally expected to wrap up the retail component of the IPO on 1 July but has given investors\u2026","rel":"","context":"In &quot;IPO&quot;","block_context":{"text":"IPO","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/7\/82.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":591230,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/01\/rameda-pharma-retail-offering-oversubscribed-on-first-day\/","url_meta":{"origin":556112,"position":4},"title":"Rameda Pharma retail offering oversubscribed on first day","author":"enterpriseam admin","date":"1 December 2019","format":false,"excerpt":"IPO WATCH- Rameda Pharma retail offering oversubscribed on first day: The retail component of Rameda\u2019s IPO was oversubscribed at the close of play on Thursday, market sources told the local press. Retail investors put in orders for 19.65 mn shares, handily covering the 18.83 mn shares offered by the pharma\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":635110,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/07\/24\/the-retail-tranche-of-act-financials-ipo-was-54-8x-oversubscribed\/","url_meta":{"origin":556112,"position":5},"title":"The retail tranche of Act Financial\u2019s IPO was 54.8x oversubscribed","author":"enterpriseam admin","date":"24 July 2024","format":false,"excerpt":"Some 26k subscribers participated in the retail tranche of the offering","rel":"","context":"In &quot;IPO&quot;","block_context":{"text":"IPO","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1898.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/556112","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=556112"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/556112\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/556108"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/556113"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=556112"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=556112"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=556112"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=556112"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=556112"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}