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Helios Investment Partners partially exits Fawry through fintech firm's IPO

British private equity firm Helios Investment Partners LLP said it partially exited Fawry for Banking and Payment Technology Service through the latter's heavily oversubscribed IPO of 36.0% of its share capital on the Egyptian Stock Exchange.

The Egypt-based electronic payments platform's shares began trading on the exchange Aug. 8.

The IPO, priced at 6.46 Egyptian pounds per share, comprised retail and institutional offerings that were 30.3x and 15.9x oversubscribed, respectively, and an offering to three cornerstone investors.

U.K.-based Helios is an Africa-focused private investment firm with funds under management totaling $3.6 billion.

As of Aug. 8, US$1 was equivalent to 16.52 Egyptian pounds.