Back to the complete issue
Sunday, 9 July 2017

Baker McKenzie selected as legal advisor on Enppi IPO

IPO WATCH – Baker McKenzie was reportedly selected as legal advisor on the listing of up to 24% of state energy company Enppi, sources tell Al Borsa. The international law firm apparently beat out four of the country’s most prominent law firms: Matouk Bassiouny, Zaki Hashem & Partners, and Zulficar & Partners. As we noted last week, a consortium led by CI Capital and includes Jefferies International Limited and Emirates NBD Capital Limited was selected as as lead managers and bookrunners of the listing. Now that the whole team has been assembled, meetings on the IPO will begin in earnest this week, the source added.

Possible delay in the IPO? These sources also told the newspaper that the IPO may take place in early 2018 once all approvals have been obtained. If true, this would mean that the government had decided to delay the IPO from the 4Q17 date announced by Investment and International Cooperation Minister Sahar Nasr last week.

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 HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; 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; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.