Back to the complete issue
Tuesday, 9 May 2017

Beltone Financial to manage IPOs of Misr Italia and Egypt Foods

IPO WATCH- As the 1H2016 IPO window draws to a close before a long, dry summer, Beltone Financial has been mandated to manager the IPOs of Misr Italia Group and Egypt Foods on the EGX, Al Mal reports. Beltone CEO Ahmed Salem says the investment bank is now preparing Misr Italia for listing and searching for an independent financial advisor; the listing will likely take place in 3Q2017. He says “20% or more” of the company’s shares will be listed to finance expansion plans. Salem also says Beltone Financial is looking to restructure Egypt Foods and get it listed before the end of the year.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Etisalat Misr (tax ID: 235-071-579), the leading telecoms provider in Egypt; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.