Telecom Egypt S Regulatory News (TEEG)

15 Dec 2005 07:01

Telecom Egypt S.A.E15 December 2005 TELECOM EGYPT COMPLETES FIRST DAY OF TRADING Over-Allotment Option Exercised Cairo, 15 December 2005 - - Telecom Egypt (ETEL.CA, TEEGq.L), the leadingprovider of telecommunications services in the Arab Republic of Egypt, yesterdaycompleted its first day of trading on the Cairo and Alexandria Stock Exchange(CASE) and on the London Stock Exchange (LSE). Telecom Egypt also announced that today Credit Suisse First Boston exercised theover-allotment option over 41,920,000 ordinary shares in the form of GlobalDepository Shares. This brings the total number of Telecom Egypt shares sold bythe Egyptian Government in the IPO to 341,414,320. • At the end of the first day of trading the share price closed at LE23.35 per ordinary share on CASE and the GDRs closed at $17.70 per GDR. Thisrepresents a 54.12% increase on the opening price. • The total proceeds of the Offer amount to LE 5,132 million (US$ 891million), including the employee offering and the over-allotment option • This makes the offering the biggest international offering by acompany in the Middle East and North African region. • Credit Suisse First Boston along with EFG Hermes were lead managersfor the Offering of Telecom Egypt -- Ends -- For further information please contact: Telecom Egypt Tarek Tantawy, General Manager, IR +20 2 578 8826 Eman Anis, Assistant Manager, IR +20 2 578 8787 Capital MS&L (international media enquiries) Neil Doyle, Claire Maloney, Annabel Forbes +44 20 7307 5330 Credit Suisse First Boston Albert Momdjian +44 20 7883 3507 Charles Kirwan-Taylor +44 20 7888 6502 EFG Hermes Karim Awad +20 2 331 8121 Not for release in the United States of America, Canada or Japan. The securitiesreferred to herein have not been and will not be registered under the USSecurities Act of 1933, as amended (the "Securities Act"), and may not beoffered or sold in the United States or to US persons (other than distributors)unless the securities are registered under the Securities Act, or an exemptionfrom the registration requirements of the Securities Act is available. No publicoffering of the securities will be made in the United States. This information is provided by RNS The company news service from the London Stock Exchange