Cheese manufacturer Obourland will be filing to list on EGX, Managing Director Ashraf Hamad said, with a view to an IPO by the start of 2017, Al Borsa reported on Tuesday. The company will use the proceeds from the transaction to expand into new product categories including ice cream and frozen meats. CI Capital is advising on the transaction.

In other IPO news, Misr Fertilizers Production Company (MOPCO) is one step closer to listing after reportedly receiving approval from the Egyptian Financial Supervisory Authority for a fair value report by its independent financial advisor, Misr Financial Investments Company, which puts the fair value of the share at EGP 52.18. Al Borsa, though, suggests that something closer to EGP 71.90 per share may be a better price due to the devaluation that has taken place since the FV report was completed, noting that MOPCO subsidiary Egyptian Nitrogen Products Company (ENPC) reports its earnings USD. Moving on, EFG Hermes is said to be the company’s most likely choice of advisor for the offering, an Oil Ministry source tells Al Borsa.