Talaat Mostafa Group announced yesterday that it will sell 395 million shares, worth LE 4.97 billion, to be offered in an IPO and private placement too. The proceeds will be used to finance projects in Egypt and the Middle East.
330 million shares will be offered in a private placement at a price hovering between LE 10.6 to 12.6 per share and to be closed on November 15th, 2007, while the public offering's price will be at a 5% discount of the private placement price.
