Total purchasing orders in Ibnsina Pharma’s initial public offering (IPO) stood at EGP 22.5 billion, CEO of Beltone Financial Holding Mostafa Abdel Aziz said.
Orders are distributed over 45%, 11%, and 18% from Egypt, Saudi Arabia, and the UAE, respectively, Abdel Aziz highlighted on the sidelines of a press conference on Tuesday.
American investors have acquired 6% of orders, while European and South African investors have made up 7% and 13%, respectively, he added.
Ibnsina will offer 80% of the stake for institutions and 20% for individuals, he noted.
He revealed that Saudi Arabia, the UAE, and Kuwait have dominated approximately 23% of the institutional orders.
“European, South African, and American institutions made up 7%, 13%, and 6%, respectively, of the IPO’s purchasing orders.
The Egyptian Exchange (EGX) had announced earlier this morning that Ibnsina’s IPO has been oversubscribed 17.1 times.