Egypt: Gourmet Egypt Shares Jump On Egx Debut After $28m IPO

Agri-food company Gourmet Egypt.com Food began trading on the Egyptian Exchange on February 10 after completing an initial public offering that combined a public offering with a private placement.

The IPO covered 190.5 million shares, representing about 47.6 percent of the company’s share capital, priced at 6.90 Egyptian pounds per share. The deal raised nearly 1.31 billion pounds ($28 million) and valued the company at about 2.76 billion pounds at listing. Gourmet Egypt has 400 million shares…