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)

What is an IPO?

An IPO (Initial Public Offering) is when a private company sells its shares to the public for the first time.

Once listed, the company’s shares can be traded on the Egyptian Exchange (EGX) like any other stock.

Through Thndr, you can subscribe to eligible IPOs directly from the app.

How do IPOs work on Thndr?

For each IPO, you can find a dedicated landing page in the Thndr app by searching for the stock ticker or company name. On this page you can:

View company details
View IPO details
Place an order
Track subscription status and allocation (once announced by EGX)

You can find the IPO page by:

Opening the Thndr app
Going to the Explore tab
Searching for the company’s ticker or name
Once you are on the IPO page, you can subscribe to the IPO. Your order will remain pending until the subscription period ends.

What is a Public Offering?

The public offering is the part of the IPO open to retail investors (including Thndr users). Anyone who meets the minimum share requirement can participate.

Typical characteristics:

Minimum subscription amount (e.g., 100 shares or 1,000 shares)
Offer price per share
Subscription start and end dates
Some IPOs are supported by a stabilization fund

You will see the minimum requirements and offer terms on each IPO’s page.

What is a Stabilization Fund?

Some IPOs include a stabilization fund during the first 30 days of trading.

This fund allows you to:

Return your allocated shares back to the fund if you are not satisfied with the stock’s performance
Recover the full IPO price if the stock trades below the offer price

This applies within the stabilization period.

If a stabilization fund exists, it will be mentioned clearly on the IPO page.

What is a Private Offering?

Some IPOs include a private offering aimed at institutional investors or qualified individuals.

To participate in a private offering, investors must meet specific eligibility criteria such as:

Minimum years of investment experience
Minimum value of assets
Higher minimum subscription amount

If private offering participation is available through Thndr, the eligibility form and requirements will be shown on the IPO page.

How much can I subscribe for?

You can subscribe with up to 4 times the amount available in your Thndr wallet since 25% of your order value is held until the offering closes.
The remaining amount is collected only if your shares are successfully allocated.

What is Oversubscription?

Oversubscription happens when investors request more shares than the number of shares available.

Example: If an IPO is 10X oversubscribed, an investor requesting 10,000 shares may receive only:

10,000 ÷ 10 = 1,000 shares

What is Allocation?

After the IPO closes:

The company reviews all subscription requests.
A final allocation ratio is announced.
Investors receive a portion of the shares they requested depending on demand

*Any unallocated funds will be automatically refunded to your Thndr Wallet

What happens after allocation?

After allocation:

The blocked amount (your order amount) will be deducted from your wallet for the shares you received
Any remaining amount is refunded
Shares appear in your Thndr portfolio
EGX later announces the first day of trading

How do I sell my IPO shares?

Once trading begins:

You can buy or sell the stock normally on the Thndr app
If the IPO has a stabilization fund, you may return your shares at the IPO price within the stabilization window
If you buy your shares on the market, you will not be eligible to use the stabilization fund.

IPO Access

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