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Disclaimer: Activities in the Egypt market are conducted through Thndr Securities Brokerage, which is a member firm of the Egyptian Stock Exchange and is authorized and regulated by the Financial Regulatory Authority . Registered in Egypt (no. 804)
Who is ACT Financial?
Act Financial was founded in 2015. It invests in different sectors such as finance, medicine, industry, and real estate.
What is happening?
Act Financial is undergoing an Initial Public Offering (IPO) which is when a private company sells its shares to the public for the first time.
This means the company becomes public and its shares can be bought and sold on the stock market.
You will be able subscribe to the Act Financial (ACTF) IPO through the Thndr app.
Below are some key details:
IPO Size: EGP 1.04 Billion (32% of the company)
Number of shares: 360,000,000 shares
IPO Price: EGP 2.90
This IPO is divided into a public offering and a private offering.
Public offering
Public offering Start date: 9 July 2024
Public offering End date: 23 July 2024
Minimum shares to participate: 1000 shares
Public offering size: 60,000,000 shares
The public offering is supported by a stabilization fund covering 100% of the offering for one month.
What is a stabilization fund?
During the first 30 days of trading, if you are not satisfied with the stock’s performance you can use the stabilization fund to get your investment value back.
Please note:
When subscribing you can subscribe with up to 4 times the amount in your wallet.
25% of your order value will be held until the order is executed
Private offering
Minimum shares to participate: 1,750,000 shares
Private offering size: 300,000,000 shares
Private offering Start date: 9 July 2024
Private offering End date: 18 July 2024
Please note:
There is no stabilization fund for the private offering
100% of your order value will be held until the order is executed
How do I participate?
On the start date:
Open the thndr app
Go to the explore tab
Search “Act” or “Act Financial and you will be able to access the IPO pag
You will be able to place your order
Your order will remain pending until the IPO end date
What is Oversubscription?
When an IPO is oversubscribed, it means the demand for shares exceeds the supply. As of the update time of this article, Act Financial’s IPO is more than 30X oversubscribed.
Allocation
The IPO was 54.76 times oversubscribed, which means each investor gets 1/54.76 of their requested shares.
For example, If you subscribe for 30,000 shares and the allocation is 54.76X.
Here’s how you can calculate your allocation:
Number of shares in your order = 30,000 shares
Number of shares divided by oversubscription = Number of shares allocated to you
30,000/54.76 = 547 shares
Which means you will be allocated 547 shares from your original order of 30,000 shares.
ACTF First day of Trading
The Egyptian exchange announced that Wednesday, July 31st will be the first day of trading for ACTF.
Act Financial has been included in the moderate activity market – click here for more on EGX market segmentation.
During the trading session:
– The opening price has been set at EGP 2.9 and there will be a 40% price limit on the first day of trading.
– The stock will be T+0 tradable.
– You will be able to place limit buy and sell orders and market sell orders normally.
– After a closing price is determined on the first day of trading, ACTF stock will follow standard price limit rules of the moderate activity market outlined here.
