Cleopatra Hospital Company’s Egyptian retail offering of 6 mn shares was reportedly 28.6x oversubscribed on the last day for individual investors to line up for shares, according to Al Borsa. The publication praised EFG Hermes handling of the transaction, saying it seemed set to avoid the pitfalls of last year’s Emaar Misr IPO, which was similarly oversubscribed but plummeted on trading. Official figures on total oversubscription should be out by week’s end; the institutional offering was 6.73x oversubscribed.

Brokerage outfits have assigned price targets as high as EGP 12.16 to Cleopatra Holdings, whose shares start trading on Thursday.Shares in the company, which owns four leading Cairo-area hospitals, are set to open at EGP 9.00 and will trade under the ticker CLHO. Pharos Holding thinks the fair value is about EGP 12.16, while most brokerages surveyed by Al Borsa have assigned price targets in the EGP 10.00-11.66 range. Sigma Capital sees 30% upside to the shares, setting a target of EGP 11.66. The share’s longer-term performance will be driven by Cleopatra Holding pumping EGP 124 mn this year to improve infrastructure, Sigma says.