CAIRO, April 4 A private placement of shares by
Egypt's MM Group was covered 9.2 times and the final
share price was set at 5.96 pounds ($0.33), underwriter Beltone
Finance said on Tuesday.
MM Group for Industry & International Trade aims to start
trading its stock on the Egyptian exchange next week after
offering 30 percent of its shares in private and public
offerings, raising 750 million pounds ($42 million).
The company distributes several international brands in
Egypt including Vodafone, Samsung Electronics, Jaguar, Land
Rover and Ferrari.
"The private placement of MM Group's shares was finalised
last night and was covered 9.23 times. The final price for the
shares in the private and public offerings was set at 5.96
pounds per share," said Osama Rashad, director of finance and
investor relations at Beltone Financial Holding.
($1 = 18.0000 Egyptian pounds)
(Reporting by Ehab Farouk; writing by Dominic Evans; editing by