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Egypt's Fawry private offering 15.9 times oversubscribed on stock exchange - statement

Investment bank EFG Hermes said the share price was 6.46 Egyptian pounds ($0.3874) per share.

Tax revenues have recorded a growth rate exceeding 38 percent since the beginning of the current fiscal year (FY24/25).

The exchange companies affiliated with Egypt's three largest state-owned banks have collected foreign currency proceeds surpassing EGP 7.5 billion.

S&P Global views Egypt’s exchange rate liberalization as a crucial milestone in bolstering confidence and fostering economic growth.

The market capitalisation of Arab stock exchanges witnessed an increase to approximately $4.54trn in February, up from around $4.4trn in January.

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Seamless North Africa 02.07.2024

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