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The Egyptian Exchange (EGX) welcomed the 213 company to list in the main market Taleem Management Services (TMS), the leading education company, to be traded under the symbol "TALM.CA" in the presence of Dr. Mohammed Farid Saleh, Executive Chairman of EGX, top management of TMS and CI Capital.
Public and private offering covered 357.8 Million shares representing 49% of company’s total shares with a price of EGP5.75/share and with a total value of EGP2.1 Billion.
The IPO resulted in allocating 17.9 million shares representing 5% of the total shares offered while the private placement allocated 339.9 million shares representing 95%.
The private placement was oversubscribed by 2.34 times and the IPO by 29.38 times with a percentage of 93.4 Egyptians to 6.5 foreigners.
Dr. Mohamed Farid, Executive Chairman of the Egyptian Exchange (EGX), said that capital markets play a vital role in financing the expansion of listed entities in EGX, contributing to the provision of jobs and support the economic and social development plans.
He added that EGX is continuously working to strengthen the supply side by effectively communicating with different businesses in the Egyptian Market to introduce the advantages and procedures f listing in the Egyptian. He stressed that EGX’s management is ready to provide all kinds of support to companies considering listing on EGX.
He stressed that new listings will attract liquidity through new or existing customers, which motivates other public and private companies to subtract, and strengthens the supply side.
Taleem Management Services (TMS) is managing Nahda University in Beni Suef, the first and largest private university in Upper Egypt with a capacity of about 11,000 students and about 6,270 enrolled students enrolled in 8 colleges. In 2019, the company agreed with Medical University of Vienna International, one of the largest human medicine universities in Europe, to provide MUVI certification to Nahda University students.
Eng. Mohammed Al Rashidi, Managing Director of EMS, said "We are pleased with this success in implementing the first offering on EGX in 2021, which will allow us to attract new segment of investors to the capital market in line with EGX's plan to have a more attractive market".
He added that this listing will contribute to accelerating the company's plans to open new universities throughout Egypt, which in turn supports the Egyptian government's efforts in developing and increasing internationally published scientific research, as well as supporting innovative capabilities and scientific research in various fields to provide the needs of the production sectors and work to find solutions to existing problems, in line with Egypt's 2030 vision.
