{"id":597445,"date":"2019-07-28T04:05:15","date_gmt":"2019-07-28T04:05:15","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/28\/fawry-sets-ipo-price-as-subscription-gets-underway\/"},"modified":"2019-07-28T04:05:15","modified_gmt":"2019-07-28T04:05:15","slug":"fawry-sets-ipo-price-as-subscription-gets-underway","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/28\/fawry-sets-ipo-price-as-subscription-gets-underway\/","title":{"rendered":"Fawry sets IPO price as subscription gets underway"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <b>IPO WATCH- Fawry sets IPO price at EGP 6.46 \/ share as private placement gets underway: <\/b>Egyptian e-payments giant Fawry has set its share price for <a href=\"https:\/\/enterprise.press\/stories\/2019\/07\/22\/egyptian-e-payments-platform-fawry-to-offer-36-of-its-shares-in-ipo\/\">the upcoming IPO<\/a> at EGP 6.46\/share for its private placement and retail offering, a discount from its EGP 6.9 fair value price, <a href=\"https:\/\/ent.news\/2019\/7\/2647.pdf\">the company said in a statement (pdf)<\/a>. Fawry will sell 36% (254.6 mn) of its shares owned by PSI Netherland Holding, of which 7.2% will be sold to Actis, 7% to the National Bank of Egypt, and 7% to Banque Misr. Meanwhile, 9.8% will be sold in the private placement and 5% in the retail offering.<\/p>\n<p><b>Regulators give the all-clear:<\/b> The Financial Regulatory Authority last week gave its approval for the company to publish the public subscription notice.<\/p>\n<p><b>The private placement began on Friday and runs until Wednesday<\/b>, the company said. The retail offering will begin today and finish on Monday, 5 August. Trading is expected to begin on Thursday, 8 August.<\/p>\n<p><b>Remember: This is the first IPO since Sarwa Capital\u2019s EGX debut last October.<\/b> Fawry\u2019s initial public offering is expected to act as a litmus test for the equity raising climate in Egypt, particularly after last year\u2019s emerging markets selloff and Sarwa\u2019s rocky IPO led several other planned IPOs and secondary listings to be put on ice. Chief among those who had postponed their offerings were companies in the state-owned privatization program, which is expected to see its first IPOs <a href=\"https:\/\/enterprise.press\/stories\/2019\/06\/09\/government-ipos-set-for-september-on-schedule\/\">in September<\/a>.<\/p>\n<p><b>Advisers:<\/b> EFG Hermes is the global coordinator and bookrunner for the share sale. Zulficar & Partners is serving as the local counsel, and Zaki Hashem & Partners is serving as local counsel to the issuer.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>IPO WATCH- Fawry sets IPO price at EGP 6.46 \/ share as private placement gets underway: Egyptian e-payments giant Fawry has set its share price for the upcoming IPO at EGP 6.46\/share for its private placement and retail offering, a discount from its EGP 6.9 fair value price, the company said in a statement (pdf). [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":597446,"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":[68,72,519,78,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-597445","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-egx","tag-enterpriseam","tag-fawry","tag-ipo-watch","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"6d37c2d4-677d-4d5c-98f5-1feb210af3d4","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2019\/7\/Fawry-1600px.jpg","photo_position":"above","related_issue":[597440],"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 sets IPO price as subscription gets underway - 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\/07\/28\/fawry-sets-ipo-price-as-subscription-gets-underway\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fawry sets IPO price as subscription gets underway\" \/>\n<meta property=\"og:description\" content=\"IPO WATCH- Fawry sets IPO price at EGP 6.46 \/ share as private placement gets underway: Egyptian e-payments giant Fawry has set its share price for the upcoming IPO at EGP 6.46\/share for its private placement and retail offering, a discount from its EGP 6.9 fair value price, the company said in a statement (pdf). 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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 &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\/7\/Fawry-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":595775,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/06\/fawry-ipos-retail-offering-30x-oversubscribed\/","url_meta":{"origin":597445,"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":597297,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/22\/egyptian-e-payments-platform-fawry-to-offer-36-of-its-shares-in-ipo\/","url_meta":{"origin":597445,"position":2},"title":"Egyptian e-payments platform Fawry to offer 36% of its shares in IPO","author":"enterpriseam admin","date":"22 July 2019","format":false,"excerpt":"IPO WATCH- Fawry to offer 36% of its shares in an IPO: E-payments platform Fawry is planning to offer up to 36% (or 254.6 mn) of the company\u2019s shares owned by PSI Netherland Holding B.V in an IPO on the EGX, the company said in a statement (pdf). Fawry received\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\/7\/Fawry-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":597445,"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 &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":568982,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/10\/emerald-private-placement-public-offering-to-get-underway-this-week\/","url_meta":{"origin":597445,"position":4},"title":"Emerald private placement, public offering to get underway this week","author":"enterpriseam admin","date":"10 February 2020","format":false,"excerpt":"IPO WATCH- Emerald to kick off Egypt\u2019s first (small) IPO of 2020 this week: The Financial Regulatory Authority (FRA) has given real estate investment firm Emerald the green light to list on the EGX and begin its private placement and public offering on Wednesday, Egyptian Real Estate Fund (EREF) CEO\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":601648,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/06\/fawry-considering-ipo-by-next-year-plans-expansions\/","url_meta":{"origin":597445,"position":5},"title":"Fawry considering IPO by next year, plans expansions","author":"enterpriseam admin","date":"6 March 2019","format":false,"excerpt":"IPO WATCH- Fawry considering IPO by next year, plans expansions: E-payments platform Fawry is considering listing on the EGX sometime in 2019 or 2020 to finance its expansions, Managing Director Mohamed Okasha told Al Mal. The company hasn\u2019t begun the IPO procedures yet but plans to hire a local investment\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\/597445","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=597445"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/597445\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/597440"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/597446"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=597445"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=597445"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=597445"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=597445"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=597445"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}