Egyptian Exchange: Covering The Arabian Cement Company IPO Exceeds 18.5 Times

The Egyptian Exchange (EGX) announced that the public offering allocation ratio for the Arabian cement company shares reached 5.4 %, which came after it exceeded the bids quantity with more than 18.5 times of the offered quantity. The total bids volume registered in the private deals market reached 460,576,616 shares by the end of day, while the offered shares volume was  24,951,073 shares.
 
From his part, Dr. Mohamed Omran , EGX Chairman said that the success of the first IPO in the stock market since 4 years reflects the investor confidence in the exchange and its listed companies, which came along with the efforts performed from regulatory and supervisory organizations to encourage the investment climate.