Arab Finance: The Egyptian Exchange (EGX) Committee decided to list Korra Energi's shares on the medium-activity market, which enables investors to engage in same-session trading, T+1 transactions, margin trading, and use as collateral at up to 80% of its market value.
Trading on Korra Energi's stock will commence on Thursday, June 11th, 2026, with the opening price set at EGP 2.97 per share, the same as the public and private offering price.
On the first day of trading, the stock will be subject to price limits ±40%, which is double the price limits in its market segment. Temporary trading halts will not be applied until a new closing price is established. Beginning with the following trading session, normal market price limits will take effect.
Regarding the post-public-offering price stabilization mechanism, the Special Deals Market (OPR) will be opened from June 11th until July 12th. During the 30-day period, the offering manager shall place a purchase order at the public offering price.
In this regard, only shareholders wishing to sell can submit sale orders, limited to the number of shares originally allocated to them. The shares offered for sale must have been acquired through the public offering and either retained in full or constitute the remaining balance thereof.
However, brokerage firms are prohibited from registering sell orders unless they first verify this condition based on the client's share balance statement and account transaction report issued by Misr for Clearing, Depository, and Central Registry (MCDR).
Prime Capital, the IPO bookrunner, recently unveiled that the private offering of Korra Energi was covered 3.02 times, instead of the previously announced coverage ratio of 5.7 times.
The company plans to offer 247.50 million shares, representing 11% of its total capital shares, on EGX.
