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Fawry Rights Issue: Here’s is what you need to know

Fawry is increasing its capital by offering new shares in the market via a rights issue at par value. These rights will be tradeable from Tuesday 20th April until Sunday 16th of May.

Watch the Thndr Fawry Webinar Below for all the information you need to know about the Right Issue.

What is a Rights issue?

A rights issue is an invitation to the existing shareholders to buy additional shares of the company on a pro-rata basis within a specified date at a specific price.

It is important to use the “rights” before its expiration date to avoid any decrease in the value of owned shares or even the entire loss of the rights if the shareholder didn’t use it. Using the rights can be in the form of subscribing in the capital increase or selling in the secondary market.

Offering Information

Eligibility

The right to participate in the capital increase will be tradable on a separate security on the EGX starting Tuesday 20 April 2021 until Sunday 16 May 2021. Fawry’s existing shareholder’s as of Thursday 15 April 2021 will be eligible for a 0.88 right for each share they hold.

Existing and non-shareholders are allowed to buy more or sell their rights in the market to others. In order to participate in the subscription, you must be a holder of a subscription right and submit your order before 16 May 2021.

How can I be part of this ?

  1. Download thndr app and open an investment account – If you already have an account with Thndr, you are good to go
  2. Make sure you have the right in your portfolio
  3. Make sure you have EGP 0.5/share of your subscription amount
  4. Send subscription email with your order to orders@thndr.app before 16 May 2021

The second subscription period

The company announced on 05/23/2021 that the EGP 400 M capital increase was covered 99.1% and that subscription will open again for 48 hours starting 05/25/2021. Shareholders of Fawry’s rights are eligible to subscribe with any amount they wish to subscribe with.

Due to the tight timeline of the 48 hours subscription, we will not be able to subscribe on your behalf. To subscribe, please follow the below steps.

  • Visit Ahli United Bank (AUB) and request a stock movement certificate that shows your holding of Fawry Rights according to the eligibility dates
  • Visit any of the Banque Du Caire branches that are listed in the prospectus
  • Fill in the subscription form and deposit your amount at the bank

About Fawry

Founded in 2008, Fawry is the largest e-payment platform in Egypt serving the banked and unbanked population. Fawry’s primary services include enabling electronic bill payments, mobile top-ups and provisions for millions of Egyptian users. 

Financial Highlights

Use of proceeds

  • EGP 120M to be invested in the electronic payments platform and digital mobile services
  • EGP 180M to be invested in the digital services platform and accepting electronic payments for merchants and institutions
  • EGP 100M to be invested in the digital services platform and accepting electronic payments for supply and distribution chains