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Thursday, 22 February 2018

Enppi’s IPO will take place at the end of the year

IPO WATCH- Enppi’s IPO will take place at the end of the year: The listing of state energy firm Enppi will take place towards the end of the year, said CEO Mohamed Hathoot. He tells Al Borsa that the company now is working on listing procedures with NI Capital. A number of people involved in the transaction, including the Chairman of CI Capital, which advising on the transaction, has said the ministerial committee supervising the state IPO program has given the green light to the share sale. Investment Minister Sahar Nasr had previously said that Enppi’s IPO will take place in 1Q2018.

Gov’t looking to add more companies to the roster of state-owned firms they plan to list: It looks like the delays in getting the state IPO program started have not dampened enthusiasm for expanding the number of companies that will list. National Investment Bank managing director Mahmoud Montasser says that his list of candidates includes 10-15 companies. Meanwhile, Transportation Minister Hisham Arafat tells Al Mal that two of the ministry’s subsidiaries will join the program. He did not name the companies, but said they were construction companies. The ministry had said that it has plans for Alexandria Container & Cargo Handling and Damietta Container & Cargo Handling Company to be part of the IPO program. Other sources speaking to the newspaper say that the General Nile Company for Road Construction and the General Nile Company for Desert Roads are on the list.

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