Act Financial’s capital increase subscription covered by 54.76x via public placement
Updated 7/24/2024 11:37:00 AM
Arab Finance: The subscription to Act Financial's capital increase was 54.76 times covered through public placement, representing 3.286 billion shares, at a value of EGP 9.528 billion, according to a statement by Zilla Capital.
The total number of subscribers to the capital increase is 26,497, the statement read.
It is worth noting that subscription to Act Financial's capital increase was 20.2 times covered through private investment, representing 6.056 billion shares, at a value of EGP 17.561 billion.
The company raised EGP 1.04 billion from its initial public offering (IPO).
The offering included a primary offering of 360 million new shares, representing 47% of Act Financial’s share capital, pre capital increase of 765.686 million shares, and 32% of its share capital, post capital increase of 1,125,685,992 shares, at a price of EGP 2.9 per share.
Zilla Capital served as the offering’s lead arranger.
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