Back to the complete issue
Wednesday, 27 December 2017

14 real estate, tourism companies gearing up to IPO in 2018 -Farid

IPO WATCH- Some 14 real estate and tourism companies are preparing to offer shares on the bourse next year, EGX Chairman Mohamed Farid told the press yesterday, Al Borsa reports. The 14 IPO contenders are subsidiaries of eight larger companies, according to Farid, who added that another six companies in the financial and petrochemicals industries are still in the early phases of their respective IPO plans and currently looking into the requirements and conditions. As we noted yesterday, EFG Hermes expects to hold three IPOs next year, including Unionaire Group and Oriental Petrochemicals Company. Meanwhile, the long-awaited IPO of Banque du Caire is expected sometime during 4Q2018, according to EFG Hermes’ Co-Head of Investment Banking Mostafa Gad.

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.