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Tuesday, 16 January 2018

BPE submits documents for February IPO

IPO WATCH- BPE submits documents for February IPO: BPE Partners has submitted the paperwork for initial public offering to the Financial Regulatory Authority (FRA) for approval, Chairman Hazem Barakat said yesterday, Al Mal reports. The company is planning to list around 35% of its shares on the EGX by the second half of February to raise c. EGP 450 mn in liquidity to use for a number of investment and expansion plans in fields including renewable energy and non-banking financial services, Barakat added. BPE has tapped Sigma Capital to manage the listing, Grant Thornton to conduct a fair value assessment, and Zaki Hashem & Partners as legal counsel. BPE is hoping to start trading on the stock exchange by early March.

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