{"id":622464,"date":"2018-10-02T04:15:03","date_gmt":"2018-10-02T04:15:03","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/02\/cira-share-price-pops-17-6-in-egx-debut\/"},"modified":"2018-10-02T04:15:03","modified_gmt":"2018-10-02T04:15:03","slug":"cira-share-price-pops-17-6-in-egx-debut","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/02\/cira-share-price-pops-17-6-in-egx-debut\/","title":{"rendered":"CIRA share price pops 17.6% in EGX debut"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>IPO WATCH- CIRA shares pop nearly 18% in EGX debut:<\/strong> Leading private-sector education provider Cairo Investment and Real Estate Development (CIRA) saw its share price rise 17.6% on it first day of trading yesterday, reaching closing north of EGP 7 per share by the end of trading, <a href=\"http:\/\/www.egx.com.eg\/ar\/Top_GL.aspx\">according to EGX data<\/a>. The IPO of the company, which now trades under the ticker \u201cCIRA,\u201d raised EGP 1.244 bn, <a href=\"https:\/\/ent.news\/2018\/10\/477.pdf\">according to a statement (pdf)<\/a> from EFG Hermes, which took the education provider public. CIRA\u2019s market cap at the start of trading yesterday was EGP 3.287 bn, according to the statement. The institutional component of the IPO was 10.36x oversubscribed amid high international demand, while the retail tranche closed 18.9x oversubscribed.<\/p>\n<p><strong>The proceeds from the IPO will be used to fuel growth plans<\/strong>, including establishing a 110-feddan medical complex in Badr City, CEO Mohamed El Kalla said yesterday, <a href=\"https:\/\/www.youm7.com\/story\/2018\/10\/1\/%D8%A5%D9%86%D8%B4%D8%A7%D8%A1-%D8%A3%D9%83%D8%A8%D8%B1-%D9%85%D8%AF%D9%8A%D9%86%D8%A9-%D8%B7%D8%A8%D9%8A%D8%A9-%D8%A8%D8%A7%D9%84%D8%B4%D8%B1%D9%82-%D8%A7%D9%84%D8%A3%D9%88%D8%B3%D8%B7-%D8%B9%D9%84%D9%89-%D9%85%D8%B3%D8%A7%D8%AD%D8%A9-110-%D9%81%D8%AF%D8%A7%D9%86\/3972003\">according to Youm7<\/a>. CIRA owns a 25% stake in the planned complex, the first phase of which will be inaugurated within two years, El Kalla said, without providing further details on the investment value. CIRA outlined in its intention to float a range of growth plans including expansion of its Badr University brand to Upper Egypt and the opening of new faculties at its primary campus in Cairo, among other activities. You can read the ITF here (pdf).<\/p>\n<p><strong>Advisers:<\/strong> Al Tamimi & Co. was the issuer\u2019s local counsel, while Zulficar & Partners was domestic counsel to the underwriter. White & Case was international counsel to the issuer, and Gide Loyrette Nouel was doing duty for the global coordinator and bookrunner. Inktank Communications serves as investor relations adviser to CIRA.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>IPO WATCH- CIRA shares pop nearly 18% in EGX debut: Leading private-sector education provider Cairo Investment and Real Estate Development (CIRA) saw its share price rise 17.6% on it first day of trading yesterday, reaching closing north of EGP 7 per share by the end of trading, according to EGX data. The IPO of the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":622465,"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":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-622464","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"6f2807a8-5b65-47ac-b1fb-5d7b86d2a906","order":"0","is_powered_by":true,"section_story_id":"95af63c0-86fd-47d9-8f0f-c40547f0ec2f","story_type":"1","photo_url":"https:\/\/ent.news\/2018\/10\/2494.jpg","photo_position":"above","related_issue":[622458],"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>CIRA share price pops 17.6% in EGX debut - 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\/2018\/10\/02\/cira-share-price-pops-17-6-in-egx-debut\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CIRA share price pops 17.6% in EGX debut\" \/>\n<meta property=\"og:description\" content=\"IPO WATCH- CIRA shares pop nearly 18% in EGX debut: Leading private-sector education provider Cairo Investment and Real Estate Development (CIRA) saw its share price rise 17.6% on it first day of trading yesterday, reaching closing north of EGP 7 per share by the end of trading, according to EGX data. The IPO of the [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/10\/02\/cira-share-price-pops-17-6-in-egx-debut\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-10-02T04:15:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2018\/10\/2494.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\/2018\/10\/02\/cira-share-price-pops-17-6-in-egx-debut\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/10\/02\/cira-share-price-pops-17-6-in-egx-debut\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"CIRA share price pops 17.6% in EGX debut\",\"datePublished\":\"2018-10-02T04:15:03+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/10\/02\/cira-share-price-pops-17-6-in-egx-debut\/\"},\"wordCount\":274,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/10\/02\/cira-share-price-pops-17-6-in-egx-debut\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2018\/10\/2494.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/10\/02\/cira-share-price-pops-17-6-in-egx-debut\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/10\/02\/cira-share-price-pops-17-6-in-egx-debut\/\",\"name\":\"CIRA share price pops 17.6% in EGX debut - 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Trading on the company\u2019s\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":625175,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/30\/egx-confirms-trading-on-cira-to-begin-on-1-october\/","url_meta":{"origin":622464,"position":2},"title":"EGX confirms trading on CIRA to begin on 1 October","author":"enterpriseam admin","date":"30 September 2018","format":false,"excerpt":"IPO WATCH- EGX confirms CIRA shares to start trading on 1 October: The first day of trading on shares of private sector education outfit CIRA\u2019s IPO will be Monday, 1 October, according to a bulletin by the EGX on Thursday. Appetite for the company\u2019s shares was strong, with the retail\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":624915,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/23\/cira-share-price-set-at-egp-6-after-successful-10-36x-institutional-offering\/","url_meta":{"origin":622464,"position":3},"title":"CIRA share price set at EGP 6 after successful 10.36x institutional offering","author":"enterpriseam admin","date":"23 September 2018","format":false,"excerpt":"**#4 IPO WATCH- CIRA prices IPO at EGP 6 per share; offering is more than 10x oversubscribed amid heavy demand from institutional investors: Leading private sector education outfit Cairo for Investment and Real Estate Development (CIRA) has priced its IPO at EGP 6.00 per share, above the midpoint of 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":624594,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/13\/cira-to-acquire-additional-24-stake-in-al-saeed-education-services\/","url_meta":{"origin":622464,"position":4},"title":"CIRA to acquire additional 24% stake in Al Saeed Education Services","author":"enterpriseam admin","date":"13 September 2018","format":false,"excerpt":"**#5 M&A WATCH- CIRA to acquire additional 24% stake in Al Saeed Education Services: Leading private sector education provider Cairo Investment and Real Estate Development (CIRA) announced yesterday that it intends to acquire an additional 24% stake in its subsidiary Al Saeed Education Services for EGP 10 mn, according to\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":604413,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/03\/earnings-watch-cira-reports-fy2018-results-in-maiden-earnings-post-ipo\/","url_meta":{"origin":622464,"position":5},"title":"Earnings watch: CIRA reports FY2018 results in maiden earnings post-IPO","author":"enterpriseam admin","date":"3 December 2018","format":false,"excerpt":"EARNINGS WATCH- Cairo for Real Estate and Investment (CIRA) reported a 95% y-o-y increase in net profit to EGP 126.4 mn in its 2018 fiscal year, which ended 31 August, according to the company\u2019s maiden earnings release (pdf). Revenues rose 48% y-o-y during, coming in at EGP 517.5 mn, with\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\/622464","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=622464"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/622464\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/622458"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/622465"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=622464"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=622464"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=622464"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=622464"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=622464"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}