{"id":595670,"date":"2019-08-04T04:00:06","date_gmt":"2019-08-04T04:00:06","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/04\/fawrys-private-placement-sees-strong-demand\/"},"modified":"2019-08-04T04:00:06","modified_gmt":"2019-08-04T04:00:06","slug":"fawrys-private-placement-sees-strong-demand","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/04\/fawrys-private-placement-sees-strong-demand\/","title":{"rendered":"Fawry\u2019s private placement sees strong demand"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <b>IPO WATCH-<\/b> <b>Fawry\u2019s private placement 15.9x oversubscribed: <\/b>Investors oversubscribed 15.9x to the private placement portion of Fawry\u2019s <a href=\"https:\/\/enterprise.press\/stories\/2019\/07\/22\/egyptian-e-payments-platform-fawry-to-offer-36-of-its-shares-in-ipo\/\">ongoing IPO<\/a>, EFG Hermes<a href=\"https:\/\/ent.news\/2019\/8\/1001.pdf\">said in a statement (pdf)<\/a>. Sources close to the matter had incorrectly told the <a href=\"https:\/\/enterprise.press\/stories\/2019\/08\/01\/egyptian-e-payments-platform-fawrys-private-placement-more-than-6x-oversubscribed\/\">local press last week<\/a> that the private placement was around 6.5x oversubscribed. About 69.3 mn shares, or 9.8% of the company, were offered to qualified institutional and high net worth investors in the private placement at EGP 6.46\/share, suggesting the company raised about EGP 447.8 mn. According to the statement, the private placement generated about EGP 7.1 bn, which appears to be the value of demanded shares received. The retail offering will close tomorrow. <a href=\"https:\/\/www.reuters.com\/article\/us-fawry-egypt-ipo\/egypts-fawry-raises-22-million-in-private-placing-ahead-of-ipo-idUSKCN1UR4X8\">Reuters<\/a> also picked up the story.<\/p>\n<p><b>Advisors:<\/b> EFG Hermes is global coordinator and bookrunner. Zulficar & Partners is serving as the offering\u2019s local counsel, while Zaki Hashem & Partners is local counsel to the issuer.<\/p>\n<p><b>Background: <\/b>Fawry\u2019s IPO will be Egypt\u2019s first since last October, testing the waters of an anemic IPO market that has seen no action since Sarwa Capital went public last year. The IPO could set the tone for the market ahead of other planned offerings, including those in the state privatization program. The e-payments platform\u2019s shares are expected to debut on the EGX on Thursday, 8 August.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>IPO WATCH- Fawry\u2019s private placement 15.9x oversubscribed: Investors oversubscribed 15.9x to the private placement portion of Fawry\u2019s ongoing IPO, EFG Hermessaid in a statement (pdf). Sources close to the matter had incorrectly told the local press last week that the private placement was around 6.5x oversubscribed. About 69.3 mn shares, or 9.8% of the company, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":595671,"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":[8572],"tags":[68,72,519,183,78,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-595670","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-egx","tag-enterpriseam","tag-fawry","tag-fintech","tag-ipo-watch","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"f8c16edd-996b-4f84-87b5-21f7a0ec8924","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2019\/7\/Fawry-1600px.jpg","photo_position":"above","related_issue":[595665],"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>Fawry\u2019s private placement sees strong demand - 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\/2019\/08\/04\/fawrys-private-placement-sees-strong-demand\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fawry\u2019s private placement sees strong demand\" \/>\n<meta property=\"og:description\" content=\"IPO WATCH- Fawry\u2019s private placement 15.9x oversubscribed: Investors oversubscribed 15.9x to the private placement portion of Fawry\u2019s ongoing IPO, EFG Hermessaid in a statement (pdf). Sources close to the matter had incorrectly told the local press last week that the private placement was around 6.5x oversubscribed. About 69.3 mn shares, or 9.8% of the company, [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/08\/04\/fawrys-private-placement-sees-strong-demand\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-08-04T04:00:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2019\/7\/Fawry-1600px.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/08\/04\/fawrys-private-placement-sees-strong-demand\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/08\/04\/fawrys-private-placement-sees-strong-demand\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Fawry\u2019s private placement sees strong demand\",\"datePublished\":\"2019-08-04T04:00:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/08\/04\/fawrys-private-placement-sees-strong-demand\/\"},\"wordCount\":215,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/08\/04\/fawrys-private-placement-sees-strong-demand\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2019\/7\/Fawry-1600px.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EGX\",\"EnterpriseAM\",\"Fawry\",\"Fintech\",\"IPO watch\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/08\/04\/fawrys-private-placement-sees-strong-demand\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/08\/04\/fawrys-private-placement-sees-strong-demand\/\",\"name\":\"Fawry\u2019s private placement sees strong demand - 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The private placement constitutes 10% of the offering, which will see Fawry sell 36% of\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":595775,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/06\/fawry-ipos-retail-offering-30x-oversubscribed\/","url_meta":{"origin":595670,"position":1},"title":"Fawry IPO\u2019s retail offering 30x oversubscribed","author":"enterpriseam admin","date":"6 August 2019","format":false,"excerpt":"IPO WATCH- Fawry\u2019s retail offering oversubscribed 30x: E-payments platform Fawry successfully completed the book-building process for its initial public offering, with the retail offering closing yesterday around 30x oversubscribed, the local press reported. The retail tranche covered 5% of the company\u2019s shares. The company also sold 21.2% to strategic investors\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\/2019\/8\/EGX-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":595915,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/14\/egypts-first-ipo-this-year-sees-shares-up-31-on-the-first-day-of-trading\/","url_meta":{"origin":595670,"position":2},"title":"Egypt\u2019s first IPO this year sees shares up 31% on the first day of trading","author":"enterpriseam admin","date":"14 August 2019","format":false,"excerpt":"IPO WATCH- Fawry IPO \u2015 the first this year \u2015 sees shares up 31% on the first day of trading: The IPO of e-payments platform Fawry got off to a good start on the first day of trading, with shares closing up 31.2% to EGP 8.48 per share on Thursday.\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\/2019\/8\/782.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":597583,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/31\/egyptian-payments-platform-fawrys-retail-component-32-5-subscribed-on-third-day\/","url_meta":{"origin":595670,"position":3},"title":"Egyptian payments platform Fawry\u2019s retail component 32.5% subscribed on third day","author":"enterpriseam admin","date":"31 July 2019","format":false,"excerpt":"IPO WATCH- Fawry\u2019s retail offering 32.5% subscribed o day three: The retail component of Fawry\u2019s ongoing IPO was 32.5% subscribed at the close of yesterday\u2019s trading session, according to a local press report. Retail investors requested some 11 mn shares from a total of 35 mn up for grabs. The\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":656420,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/04\/united-banks-retail-tranche-59x-oversubscribed-as-subscription-period-closes\/","url_meta":{"origin":595670,"position":4},"title":"United Bank\u2019s retail tranche 59x oversubscribed as subscription period closes","author":"enterpriseam admin","date":"4 December 2024","format":false,"excerpt":"The offering\u2019s private placement also finished oversubscribed, with the subscription covered 6x","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\/535.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":636130,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/12\/21\/at-lease-institutional-offering-40-16x-oversubscribed\/","url_meta":{"origin":595670,"position":5},"title":"AT Lease institutional offering 40.16x oversubscribed","author":"enterpriseam admin","date":"21 December 2017","format":false,"excerpt":"IPO WATCH- The institutional offering tranche of Al Tawfeek Leasing Co. (AT Lease) shares was 40.16x oversubscribed for the 14.4 mn shares offered, generating EGP 95.04 mn from investors. Our friends at Pharos Holding, the sole bookrunner and coordinator for the transaction, reported receiving orders from investors totaling EGP 3.8\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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/595670","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=595670"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/595670\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/595665"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/595671"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=595670"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=595670"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=595670"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=595670"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=595670"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}