The public offering includes 228.75 million shares, representing 5% of the total shares initially offered for sale. Subscription opened on Monday, October 19, alongside the private tranche targeting qualified investors.
The offering forms part of a sale of 320 million shares by existing shareholder MNT Investments B.V..
The company was granted temporary listing approval by the EGX Listing Committee in March with issued capital of EGP 5 billion.
Hussein said the company is not planning a near-term listing, as it needs greater financial and structural maturity.
The shares were sold at an average price of around EGP 16 each.
