IPO WATCH- The government is still deciding which foreign stock exchange will land a piece of its planned IPO of petroleum services outfit Enppi, a source tells Al Borsa. The LSE, Nasdaq Dubai and Euronext Amsterdam are all in the running, it seems. NI Capital, the government’s investment bank and shot-caller on the transaction, says the three markets offer ample access to liquidity and are familiar with Egyptian listings. While Enppi will be primarily an EGX listing, NI Capital is said to be mulling either a dual listing on one of those exchanges or a GDR offering as part of the transaction. The ultimate transaction size and structure won’t be made until “a month or two before Enppi begins trading on the EGX,” the source adds. Enppi is set to be the first company to list on the EGX under the Egyptian government’s IPO program; the state is reportedly looking to raise USD 213-267 mn from the sale of a 24% stake. CI Capital, Jefferies and Emirates NBD Capital will be serving as lead managers and bookrunners, while Baker McKenzie are legal advisors (though it’s not yet clear whether they’re advising the issuer or the lead managers).