IPO WATCH- CI Capital is reportedly the frontrunner to quarterback agriculture and commodities firm Cairo 3A’s IPO on the EGX, Al Mal reports. CI Capital co-CEO Hazem Badran told reporters last week that the investment bank is set to manage the EGP 1 bn IPO of an unnamed food company. Previous reports had suggested that Cairo 3A plans to IPO this year. Sources close to the company had previously said the offering would see both existing shareholders exiting and new shares on offer. No details have yet emerged on the expected size of the offering.

Cairo 3A would be one of four IPOs CI Capital has in the pipeline for this year. The bank is set to take charge of a secondary stake sale by the state-owned Abu Qir Fertilizers Company and manage Enppi’s initial public offering. Enppi and Abu Qir are among the 23 companies included within the government’s privatization program announced back in 2018. The group is also aiming to manage the listing of an education firm, which we believe will be Taleem for Consulting and Educational Services. Badran had previously said it would be listed within the coming two years.