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Fawry to increase the issued capital… and list part of its shares in America

Fawry for Banking Technology and Electronic Payments has announced its plans to increase the issued capital by EGP 800 million.

It will be paid in cash in favor of the old shareholders.

On the other hand, the company will establish the American certificate of deposit program to consider the possibility of listing part of its shares in the United States.

It will be part of a secondary offering and will be registered at the U.S. Securities and Exchange Commission (SEC).

“Fawry” has mentioned that the timing of the offering, the number of certificates of deposit, and the open price for its issuance, haven’t been determined yet.