{"id":625065,"date":"2018-09-26T04:19:00","date_gmt":"2018-09-26T04:19:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/26\/cira-ipos-retail-component-is-heavily-oversubscribed\/"},"modified":"2018-09-26T04:19:00","modified_gmt":"2018-09-26T04:19:00","slug":"cira-ipos-retail-component-is-heavily-oversubscribed","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/26\/cira-ipos-retail-component-is-heavily-oversubscribed\/","title":{"rendered":"CIRA IPO\u2019s retail component is heavily oversubscribed"},"content":{"rendered":"

<\/a> **#4<\/strong> IPO WATCH- Retail tranche of CIRA IPO closes 18.9x oversubscribed: <\/strong>Appetite for the retail offering of private sector education outfit CIRA\u2019s IPO was strong, with the EGX announcing<\/a> that the offering of 14.5 mn shares, for which the subscription period ended yesterday, was 18.9x oversubscribed. Trading on the company\u2019s shares is due to begin on 1 October. The institutional component of the IPO was 10.36x oversubscribed<\/a> amid high international demand. CIRA is offering some 207 mn shares (c. 38% of the company) and had priced its IPO at EGP 6.00 per share, above the midpoint of the EGP 5.45 to EGP 6.30 per share range on which it had previously guided.<\/p>\n

Advisers:<\/strong> EFG Hermes is sole global coordinator and bookrunner for the transaction. Al Tamimi & Co. is acting as the issuer\u2019s local counsel, while Zulficar & Partners is domestic counsel to the underwriter. White & Case is international counsel to the issuer, while Gide Loyrette Nouel is doing duty for the global coordinator and bookrunner. Inktank Communications is serving as investor relations advisor to CIRA.<\/p>\n","protected":false},"excerpt":{"rendered":"

**#4 IPO WATCH- Retail tranche of CIRA IPO closes 18.9x oversubscribed: Appetite for the retail offering of private sector education outfit CIRA\u2019s IPO was strong, with the EGX announcing that the offering of 14.5 mn shares, for which the subscription period ended yesterday, was 18.9x oversubscribed. Trading on the company\u2019s shares is due to begin […]<\/p>\n","protected":false},"author":1,"featured_media":0,"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-625065","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"6d4b637d-a655-46a7-8781-882e70448fc0","order":"0","is_powered_by":true,"section_story_id":"f9b3a0e6-6ec4-408c-9996-cd14e21cb429","story_type":"1","photo_url":"","photo_position":"above","related_issue":[625055],"teaser":"","voice_url":""},"yoast_head":"\nCIRA IPO\u2019s retail component is heavily 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\/2018\/09\/26\/cira-ipos-retail-component-is-heavily-oversubscribed\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CIRA IPO\u2019s retail component is heavily oversubscribed\" \/>\n<meta property=\"og:description\" content=\"**#4 IPO WATCH- Retail tranche of CIRA IPO closes 18.9x oversubscribed: Appetite for the retail offering of private sector education outfit CIRA\u2019s IPO was strong, with the EGX announcing that the offering of 14.5 mn shares, for which the subscription period ended yesterday, was 18.9x oversubscribed. 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