Back to the complete issue
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.

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.