Cairo Bank public offering closes 27 times oversubscribed on Egyptian Exchange

Egypt's Cairo Bank has closed its public offering with buy orders of 9.291 billion shares, covering the sale about 27.08 times.

• Subscription closed Wednesday with initial buy orders totaling 9.291 billion shares, covering the public offering about 27.08 times.
• The bank set the final share price at 5.30 Egyptian pounds, the top of the 4.82–5.30 indicative range announced October 18.
• Allocation reached 3.69 percent, giving a subscriber requesting 100,000 shares about 3,690 shares.
• The private placement of 6.519 billion shares closed October 23, with coverage rising to 19.8 times excluding strategic investors.