Back to the complete issue
Tuesday, 13 March 2018

Carbon Holdings taps EFG Hermes, Baker, W&C for IPO

IPO WATCH- Carbon Holdings has tapped EFG Hermes to run its IPO, which is scheduled to take place by December, unidentified sources tell Al Borsa. The size of the listing remains undetermined. The stake sale is likely to be the largest IPO in Egypt since 2011, although the company has yet to settle on the structure of the transaction or the secondary exchanges, sources had told us in an exclusive earlier this week. Carbon Holdings has also selected Baker & McKenzie as local legal counsel and White & Case as international counsel. The company is also hoping to borrow USD 6 bn to cover 60% of the costs of its USD 10.8 bn petrochemical complex in Ain Sokhna, according to the sources.

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; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.