EGX WELCOMES Sarwa Capital to its main market

The Egyptian Exchange’s (EGX) welcomed a newly listed company Sarwa Capital to its trading platform on Monday 15th of October 2018. The new listed company is number 226 in EGX’s main market. EGX held a ringing of bell ceremony for the beginning of trading of that day in the presence of Sarwa Capital’s executive management and representatives of Beltone Financial Holding and EGX management headed by Mr Mohamed Farid Saleh, EGX chairman.
The private placement and Initial Public Offering were executed on 295.2 million shares, representing 47.2% of the company’s shares at the price EGP 7.36 per share, worth a total value of EGP 2.2 billion.
The IPO was on 29.5 million shares representing 10% of the shares offered; approximately 4.7% of the total company’s shares, while the private placement was on 265.6 million shares representing 90% of the total shares offered, representing 42.5% of the total company’s shares.