EGX celebrates Taaleem Management Services Listing
07/04/2021
The Egyptian Exchange (EGX) welcomed the 213 company to list
in the main market Taleem Management Services (TMS), the leading education
company, to be traded under the symbol "TALM.CA" in the presence of Dr.
Mohammed Farid Saleh, Executive Chairman of EGX, top management of TMS and CI
Capital.
Public and private offering covered 357.8
Million shares representing 49% of company’s total shares with a price of
EGP5.75/share and with a total value of EGP2.1 Billion.
The IPO resulted in allocating 17.9 million
shares representing 5% of the total shares offered while the private placement
allocated 339.9 million shares representing 95%.
The private placement was oversubscribed by 2.34
times and the IPO by 29.38 times with a percentage of 93.4 Egyptians to 6.5
foreigners.
Dr. Mohamed Farid, Executive Chairman of the Egyptian
Exchange (EGX), said that capital markets play a vital role in financing the
expansion of listed entities in EGX, contributing to the provision of jobs and
support the economic and social development plans.
He added that EGX is continuously working to strengthen the
supply side by effectively communicating with different businesses in the
Egyptian Market to introduce the advantages and procedures f listing in the
Egyptian. He stressed that EGX’s
management is ready to provide all kinds of support to companies considering
listing on EGX.
He stressed that new listings will attract liquidity through
new or existing customers, which motivates other public and private companies
to subtract, and strengthens the supply side.
Taleem Management Services (TMS) is managing Nahda University
in Beni Suef, the first and largest private university in Upper Egypt with a
capacity of about 11,000 students and about 6,270 enrolled students enrolled in
8 colleges. In 2019, the company agreed
with Medical University of Vienna International, one of the largest human
medicine universities in Europe, to provide MUVI certification to Nahda
University students.
Eng. Mohammed Al Rashidi, Managing Director of EMS, said
"We are pleased with this success in implementing the first offering on
EGX in 2021, which will allow us to attract new segment of investors to the
capital market in line with EGX's plan to have a more attractive market".
He added that this listing will contribute to accelerating
the company's plans to open new universities throughout Egypt, which in turn
supports the Egyptian government's efforts in developing and increasing
internationally published scientific research, as well as supporting innovative
capabilities and scientific research in various fields to provide the needs of
the production sectors and work to find solutions to existing problems, in line
with Egypt's 2030 vision.