The secondary stake sale of 126.2 million shares (~10%) of Abu Qir’s (ABUK) capital was executed on Thursday, in a transaction worth approximately EGP 2.24 billion.
More details🧐 Selling shareholders include the National Investment Bank (NIB), the Industrial Development Authority (IDA), Al Ahly Capital Holding, & the Chemical Industries Holding Company. 100% of the offering went to non-retail investors.
Why is this important🤔 The offering, which was priced at EGP 17.8/share, is the second offering in the state’s privatization program, following E-Finance’s IPO in October of this year. ABUK closed 20% up at EGP 22.11/share in Thursday’s trading session.