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Tuesday, 6 March 2018

B Investments to complete EGX listing this month, Farid sees as many as seven IPOs this year

IPO WATCH- The EGX is looking forward to as many as seven IPOs in 2018, Chairman Mohamed Farid told Bloomberg TV. “An IPO this month is likely to be followed by another in April, and a further four or five share sales before year-end,” he said, without revealing any names. Farid had said last month that that eight companies have already begun listing procedures from sectors including petrochemicals, finance, real estate, and tourism.

IPO WATCH- B Investments to complete EGX listing this month: Our friends at BPE Holding for Financial Investments (better known as B Investments) announced yesterday (pdf) that it was taking the “final steps” in completing its listing on the EGX this month. The company intends to list a total of 43,131,554 shares on the EGX through private and public placement. Bookbuilding for the private placement of 38,131,554 shares will run from 6-25 March, while the public offering will take place from 13-25 March. Proceeds will be used to grow the company’s current portfolio through acquisitions and new investments. “We are very pleased to grow our shareholder base through this IPO and capital increase,” said B Investments Chairman and co-founder Hazem Barakat. “This allows us to further deploy capital and transact on new investments to build on our existing portfolio.” Sigma Capital is the sole coordinator and bookrunner, while Zaki Hashem & Partners are acting as legal counsel to the issuer.

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