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Taaleem Management Services' public offering covered 29.38 times

Taaleem Management Services' public offering covered 29.38 times

ArabFinance: Taaleem Management Services (TALM) said that its public offering was covered 29.38 times on April 1st, according to Al-Mal

The company offered 17.89 million shares, however, the purchasing orders reached 525.6 million, according to the EGX’s disclosure.

Taaleem company is reportedly opening the IPO and private placement for subscription by offering 357.8 million shares owned by Sphinx Obelisk. This volume represents 49% of Taaleem’s capital.

The issuance will be executed through an initial public offering of 17.89 million of the shares, in addition to a private placement of 339.93 million stocks.

The educational company announced that it would offer its share at a price of up to EGP 5.75 per share following the Financial Regulatory Authority’s approval on March 25th.

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