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Monday, 8 May 2017

NI Capital looking for global coordinators for Enppi IPO

IPO WATCH- NI Capital has invited investment banks to pitch for the global coordinator’s gig on the potential IPO of state-owned petroleum and petrochemicals EPC contractor Enppi, according to Al Masry Al Youm. This is the first phase of listing Enppi on the EGX, NI Capital CEO Ashraf El Ghazaly is quoted as saying. In total, El Ghazaly told Al Mal, NI Capital has compiled a list of 10 state-owned companies, including Enppi, that could be listed on the EGX. He did not name any of the other candidates.

IPO WATCH- The Ministry of Public Enterprise (think: holding tank for old guard state-owned companies) has changed its turn on IPOs, with minister Ashraf El Sharkawy saying yesterday that it will move forward with IPOs for select assets in a bid to raise capital and boost their performance, Al Ahram reports.

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