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The Financial Regulatory Authority (FRA) has approved the publication of the initial public offering (IPO) prospectus of e-finance for Digital and Financial Investments (EFIH), according to a statement filed to the Egyptian Exchange (EGX).


Through the IPO, up to 257.77 million shares of e-finance, accounting for 16.1% of the company’s total shares, will be offered on the Egyptian Exchange (EGX) for sale in the secondary market through a public offering and a private placement.


The company could raise the number of offered shares in the private placement based on the coverage ratio of not over 26.1%.

Last Sunday, e-finance announced it set the indicative price for its IPO on the EGX at a range between EGP 12.5 and EGP 13.98 per share.


The offering comprises a sell-down of 80 million secondary shares and a capital increase of 177.777 million primary shares, both account for 14.5% of the group’s share capital.


The final price announcement will be set based on a book-building process and is expected to take place on/around October 9th, 2021.


The subscription of the Egyptian retail offering is projected to commence on October 6th until October 13th, 2021.


Trading of the issuer’s shares on the EGX is expected to start on/around October 18th, 2021.


It is worth noting that e-finance reported a consolidated net profit attributable to the parent company of EGP 278.83 million in the first half (H1) of 2021.


Founded in 2005, e-finance is the first fintech platform in Egypt and a leading digital payment infrastructures’ developer.


Arab Finance

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