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Egypt’s Biggest IPO Since 2015 Soars in Highly Anticipated Debut

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Photographer: Shawn Baldwin/Bloomberg

Egypt’s state-run e-payments company soared Wednesday in its trading debut after the biggest initial public offering on the local stock exchange since 2015.

E-Finance for Digital and Financial Investments jumped 40% to 19.51 Egyptian pounds at 10:02 a.m. in Cairo, providing fresh incentive for authorities to push ahead with a long-stalled government program to take more companies public.