Telecom Egypt Sells Over 162 Million Shares on Stock Exchange ...Egypt

Egyptian Streets - News

Photo credit: Telecom Egypt Shares worth EGP 3.747 billion (USD 121 million) of Egypt’s leading national telecommunications, Telecom Egypt, were sold on Thursday, 11 May according to a statement released by Egypt’s Ministry of Finance. Over 162 million shares were sold at a price of EGP 23.11 (USD 0.75) in an accelerated bookbuilding form – a process in which companies sell shares within a short timeframe. Demand for shares of the first offered batch were 3.11 times higher than what was offered, the ministry added. The total amount of shares being sold will exceed 170 million shares, which is equivalent to 10 percent of the company’s stock. Company employees will be given an opportunity to b

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Last updated : 15 May 2023 clock 03:44 PM

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Telecom Egypt Sells Over 162 Million Shares on Stock Exchange ...Egypt

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