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Thursday, 13 July 2017

EPPC IPO

IPO Watch – MENA private equity firm Amwal Al Khaleej is looking to list shares of Egyptian Propylene and Polypropylene Company (EPPC) in 1Q18, regional head Karim Saada told Amwal Al Ghad on Tuesday. The planned IPO aims to finance EPPC’s expansions in its petrochemicals plant, where Amwal Al Khaleej is seeking to increase the production capacity of its petrochemicals plant to 600K tonnes annually from 290K tonnes between three and four years, he added. As we noted back in May, EPPC is hoping to invest USD 1 bn in these expansions. EFG Hermes was tapped as the lead manager for the listing, Saada confirmed. EPPC counts Mohamed Farid Khamis, the EGPC, DISA, Arab Investment Company, and Oriental Petrochemical Company as lead shareholders alongside Amwal Al Khaleej.

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