The Egyptian Exchange (EGX) announced that the public offering of Korra Energi was oversubscribed by 31.35 times, reflecting strong investor appetite for the company’s listing.
According to the EGX, total purchase orders recorded in the special deals market (OPR) reached around 3.1 billion shares.
The exchange had opened the OPR window between May 18 and May 24 to register orders for the private placement tranche, which included 148.5 million shares, representing 60% of the total offering for qualified investors in Egypt.
Earlier, the company said its private placement tranche was covered 2.7 times on the first day of subscription.
Meanwhile, the public offering tranche, comprising 99 million shares, or 40% of the total issue, remained open for subscription between May 19 and May 25.
The company is seeking to raise about EGP735 million through the offering of 11% of its capital at EGP2.97 per share, representing a 7.2% discount to an estimated fair value of EGP3.20 per share, according to the prospectus.
The listing marks the second IPO on the Egyptian Exchange in 2026, following the debut of Gourmet Egypt in February.
Korra Energi was established in 1997 under its original name ConsuKorra Company, before becoming a joint-stock company in 2009 and adopting its current name in 2024.
