Gourmia Egypt's IPO Attracts 55.8 Times Subscription

The Egyptian Exchange announced today that the initial public offering (IPO) of Gourmia Egypt was oversubscribed by about 55.8 times, following the completion of the order registration period.

The exchange noted that the total initial purchase orders recorded on the company's private trading market amounted to approximately 2.12 billion shares, reflecting strong investor interest in the offering.

Recently, the company reported that the reserved offering was covered approximately 12.22 times, with a final offering price set at 6.90 Egyptian pounds per share.

Gourmia Egypt previously announced its intention to offer 47.6% of its shares on the Egyptian Exchange, equivalent to about 190.5 million shares, divided into 152.4 million shares for the reserved offering and 38.1 million shares for the public offering.