World Markets

Egypt's Fawry IPO 15.9 times oversubscribed on stock exchange - statement

Egyptian digital payment company Fawry's initial public offering on the Egyptian stock exchange was 15.9 times oversubscribed, the listing manager said on Thursday.

CAIRO, Aug 1 (Reuters) - Egyptian digital payment company Fawry's initial public offering on the Egyptian stock exchange was 15.9 times oversubscribed, the listing manager said on Thursday.

Investment bank EFG Hermes said the share price was 6.4 Egyptian pounds ($0.3874) per share.

($1 = 16.5200 Egyptian pounds)

(Reporting by Ehab Farouk; Writing by Nadine Awadalla, Editing by Alexandra Hudson)

((Nadine.Awadalla@thomsonreuters.com;))

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