Obour Land’s international offering 7.4x oversubscribed at EGP9.68 per share
Egyptian cheese producer Obour Land priced its international offering of 56mn shares at EGP9.68 per share, putting it at the top end of the EGP9.00-9.68 range it had announced on 5 December 2016. The international offering, which generated cEGP4bn in demand, was 7.4x oversubscribed. According to a company’s statement, its initial market capitalization is at cEGP1.9bn based on the final offer price. (Company disclosure)
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