VOL. XLI

No. 10

9-March-1998

EGYPT

Egypt Mobile Telephone Share Offer Oversubscribed 50 Times

An offer of 18mn shares, representing 30% of the capital of the new Egyptian MobilePhone Services Company, was oversubscribed by more than 50 times according to the sponsor,National Bank of Egypt. The offer closed just 10 days after it opened on 15 February.Bidders will receive only 1.7% of their requested shares, with a minimum allocation of 25shares. The demand for the shares should stimulate a...