Talat Mostafa shares soar on Cairo listing

28 November 2007
Talat Mostafa Group shares closed at E£13.68 ($2.47) up 24 per cent from their listing price when they debuted on the Cairo & Alexandria Stock Exchanges on 28 November.

The shares were floated at E£11 ($1.99).

The Egyptian conglomerate staged the largest ever initial public offering in Egypt in November, raising $830m in the process. Investor demand for the issue was strong and the offering was 41 times oversubscribed.

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