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Sunday, 26 November 2017

Nile Air CEO says airline will IPO at the end of 2018

IPO WATCH- Airline Nile Air’s IPO is back on, with its CEO Ahmed Ali announcing that it will take place towards the end of 2018, Al Mal reports. The company, which had said it would IPO 30% of its shares this year, had delayed the listing due to macroeconomic developments in 2016 and 2017, including the EGP float, said Ali. The company is also reassessing the stake it plans to put up for sale in light of its recent growth and funding needs to expand its fleet, according to Al Borsa. Ali said that company is auditioning three potential global coordinators for the offering. Media reports had emerged last year that EFG Hermes had been tapped to manage the IPO.

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