Ghabbour private placement 7 times oversubscribed

Newswire

CAIRO, June 28 (Reuters) - A private placement of shares in Egyptian auto company Ghabbour Auto has been seven times oversubscribed two working days before it closes, a stock exchange statement said on Thursday. Brokerage firm Beltone, which is managing the offering, said 25.6 million shares were being offered at 37 Egyptian pounds ($6.50) per share and that people had sent in applications for around 179.6 million shares. Ghabbour Auto is also offering 7.5 million shares in a public ...

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