Sources revealed to Bloomberg that it is scheduled to close the order book for selling an additional 10% stake in Telecom Egypt later today, Thursday.
According to the agency, the price range per share ranges from 22.22 to 27.16 pounds, while the number of shares offered is 170.7 million shares.
It stated that the 10% of the issued capital is distributed at a rate of 9.5% offered to qualified investors, and 0.5% to the company’s employees.
And Bloomberg indicated that Sunday, May 14, was set as the date for the new shares to be made available to buyers, and Monday, May 15, for the settlement of purchases.
Telecom Egypt achieved a net profit after taxes during the past year amounting to 9.2 billion pounds, a growth rate of 9% compared to the previous year, supported by outstanding operational performance.
Total consolidated revenues amounted to EGP 44.3 billion, achieving a growth of 19% compared to the previous year, driven by an increase in revenues from retail business units and wholesale business units (a growth rate of 21% and 17%, respectively).
Data services revenues increased by 3.2 billion pounds compared to the previous year, along with an increase in other revenues, the enterprise business unit by 0.9 billion pounds, and cable revenues achieved the same increase compared to the previous year.
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