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Tuesday, 11 April 2017

Raya subscriptions open today and until 16 April

IPO WATCH- The subscription period for the retail offering of Raya Contact Center’s IPO will begin today and run until Sunday, 16 April, Al Borsa reports. The company is offering around 49 mn shares at a maximum price of EGP 17.91 per share for both retail and institutional investors. The final share price will be set by Tuesday, 18 April at the latest, according to Helal El Hossary, a partner at the Zaki Hashem & Partners law firm, the issuer’s legal counsel. Dechert LLP is serving as international counsel to the issuer, while EFG Hermes is the sole global coordinator and bookrunner, with Matouk Bassiouny as its local counsel. The offering is expected to raise up to EGP 875.7 mn, according to the newspaper. You can read Raya’s price range announcement here (pdf).

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