Chairman of the Egyptian Exchange (EGX) Omar Redwan has opened today's trading session in the presence of EGX Vice Chairman Mohamed Sabry, Korra Energi's Non-Executive Chairman Ahmed Darwish, and Founder and CEO Ayman Korra during a bell-ringing ceremony marking the company's market debut.

Korra Energi's debut on the Egyptian Exchange (EGX) marked a major milestone in the company's growth journey, as it floated 11% of its shares and attracted nearly 17,000 shareholders to its ownership structure, Ayman Korra, the company's Founder and CEO, told Arab Finance.

Korra Energi, through its alliance with High Dam Electrical & Industrial Projects Co (HIDELECO), has won project contracts to implement the first and third phases of a 500-kV transmission line linking the Gulf of Suez wind farms to Egypt's national grid.

Trading on Korra Energi's shares on the Egyptian Exchange (EGX) commenced on Thursday, June 11th, at an opening price of EGP 2.97 per share, the same as the public and private offering price.

The Egyptian Exchange (EGX) Committee decided to list Korra Energi's shares on the medium-activity market, which enables investors of same-session trading, T+1 transactions, margin trading, and use as collateral at up to 80% of its market value.

The private offering of Korra Energi was covered 3.02 times, instead of the previously announced coverage ratio of 5.7 times, Prime Capital, the IPO bookrunner, unveiled.

Arab Finance Interview with Ayman Korra, President and CEO of Korra Energi

The private offering of Korra Energi has been covered 2.7 times on the first day of subscription, according to a disclosure by Prime Capital.

Korra Energi plans to offer 247.50 million shares, representing 11% of its total capital shares, on the Egyptian Exchange (EGX) at an offering price of EGP 2.97 per share.

Ayman Korra, President & CEO of Korra Energi, detailed the company’s initial public offering (IPO) on the Egyptian Exchange (EGX) in line with its growth strategy to become a global player.

Korra for Energy & Investment Projects has signed a new contract to build a 1.4 megawatt (MW) hybrid solar power plant for the Esh El Mallaha Petroleum Company (Eshpetco)

The EGX Listing Committee approved Korra Energi’s temporary listing of 2.25 billion shares at a nominal value of EGP 0.20 per share.