{"id":595775,"date":"2019-08-06T04:00:48","date_gmt":"2019-08-06T04:00:48","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/06\/fawry-ipos-retail-offering-30x-oversubscribed\/"},"modified":"2019-08-06T04:00:48","modified_gmt":"2019-08-06T04:00:48","slug":"fawry-ipos-retail-offering-30x-oversubscribed","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/06\/fawry-ipos-retail-offering-30x-oversubscribed\/","title":{"rendered":"Fawry IPO\u2019s retail offering 30x oversubscribed"},"content":{"rendered":"

<\/a> IPO WATCH- Fawry\u2019s retail offering oversubscribed 30x:<\/b> 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<\/a>. The retail tranche covered 5% of the company\u2019s shares. The company also sold 21.2% to strategic investors as part of a pre-agreed transaction: state-owned banks Banque Misr and the National Bank of Egypt were both offered 7% stakes, while EM PE giant Actis was offered 7.2%. The remaining 9.8% was allocated in a private placement to institutional investors, which closed 15.9x oversubscribed<\/a> earlier this week. Shares are expected to begin trading on Thursday at EGP 6.46.<\/p>\n

Investors attracted by strong growth prospects:<\/b> \u201cThe subscriptions for both the public and private offerings for Fawry were large and strong because the industry itself is new to the market and has greater than average growth,\u201d Radwa El Swaify, head of research at Pharos, told Reuters<\/a>. \u201cThe view of investors this time around is towards the long-term payoff and not the short-term.\u201d<\/p>\n

Advisors:<\/b> EFG Hermes<\/b> is global coordinator and bookrunner. Zulficar & Partners<\/b> is serving as the offering\u2019s local counsel, while Zaki Hashem & Partners<\/b> is local counsel to the issuer.<\/p>\n

Background:<\/b> Fawry is selling 36% of its shares in Egypt\u2019s first IPO since last October, when Sarwa Capital went public amid the EM sell-off. The company\u2019s debut on the EGX this week is largely seen as a litmus test for an otherwise anemic IPO market that has seen several companies put off their plans to go public. The IPO could set the tone for the market ahead of other planned offerings, including those in the state privatization program.<\/p>\n","protected":false},"excerpt":{"rendered":"

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 as part of a pre-agreed […]<\/p>\n","protected":false},"author":1,"featured_media":595776,"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":[72,519,78,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-595775","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-enterpriseam","tag-fawry","tag-ipo-watch","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"e4cd70a8-b6fe-4c4e-8972-06bd6d70528c","is_powered_by":true,"section_story_id":"195c3e11-29db-44a3-9d57-eaeaecadc010","story_type":"1","photo_url":"https:\/\/ent.news\/2019\/8\/EGX-1600px.jpg","photo_position":"above","related_issue":[595767],"teaser":"","voice_url":""},"yoast_head":"\nFawry IPO\u2019s retail offering 30x oversubscribed - 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\/06\/fawry-ipos-retail-offering-30x-oversubscribed\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fawry IPO\u2019s retail offering 30x oversubscribed\" \/>\n<meta property=\"og:description\" content=\"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. 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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 "Speed Round"","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":595622,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/01\/egyptian-e-payments-platform-fawrys-private-placement-more-than-6x-oversubscribed\/","url_meta":{"origin":595775,"position":1},"title":"Egyptian e-payments platform Fawry\u2019s private placement more than 6x oversubscribed","author":"enterpriseam admin","date":"1 August 2019","format":false,"excerpt":"IPO WATCH- Fawry private placement more than 6x oversubscribed: The private placement portion of e-payments platform Fawry\u2019s initial public offering, which closed yesterday, was c.6.5x oversubscribed, sources close to the matter told the local press. The private placement constitutes 10% of the offering, which will see Fawry sell 36% of\u2026","rel":"","context":"In "Speed Round"","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":636190,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/12\/26\/at-lease-retail-offering-was-28x-oversubscribed\/","url_meta":{"origin":595775,"position":2},"title":"AT Lease retail offering was 28x oversubscribed","author":"enterpriseam admin","date":"26 December 2017","format":false,"excerpt":"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\u2026","rel":"","context":"In "Speed Round"","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":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":595775,"position":3},"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 "Speed Round"","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":591282,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/02\/rameda-retail-offering-1-6x-oversubscribed-on-second-day-of-subscription\/","url_meta":{"origin":595775,"position":4},"title":"Rameda retail offering 1.6x oversubscribed on second day of subscription","author":"enterpriseam admin","date":"2 December 2019","format":false,"excerpt":"IPO WATCH- Rameda retail offering 1.6x oversubscribed on second day of subscription: Rameda Pharma\u2019s retail offering was 1.6x oversubscribed at the end of the second day of subscription yesterday, according to the local press. Retail investors bid for 29.96 mn shares from a total 18.83 mn shares on offer. The\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/1\/626.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":595670,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/04\/fawrys-private-placement-sees-strong-demand\/","url_meta":{"origin":595775,"position":5},"title":"Fawry\u2019s private placement sees strong demand","author":"enterpriseam admin","date":"4 August 2019","format":false,"excerpt":"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,\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/7\/Fawry-1600px.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\/595775","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=595775"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/595775\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/595767"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/595776"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=595775"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=595775"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=595775"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=595775"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=595775"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}