Obour Land receives fair value approval; subscription period for public offering to start tomorrow
Egyptian cheese producer Obour Land announced that it has completed all required regulatory procedures for its initial public offering (IPO) and received approval of the Egyptian Financial Supervisory Authority of its fair value report on Sunday. The company plans to float 80 million shares (c.40% stake) in the IPO at a maximum price of EGP9.68 per share. The deadline for subscription for the private tranche (70% of the offering) is 11 December, while the public subscription period begins tomorrow (6 December 2016) and lasts until 13 December 2016. (Company disclosure)
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