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Sunday, 18 March 2018

B Investments planning IPO for Ibtikar

IPO WATCH- Speaking of B Investments, the firm plans to list its subsidiary Ibtikar for Investment Finance sometime in the next three years, B Investments founding partner and Chairman Hazem Barakat told Al Borsa in an interview. Barakat said that the firm is ready to exit some of its portfolio companies.

Conversely, the firm plans to up its investments using the EGP 460 mn in proceeds from its IPO, which is scheduled to take place on 29 March. The firm plans to increase its minimum investment in target acquisitions and subsidiaries to EGP 100 mn. The firm is studying new investments in the food, financial services, renewable energy and education, despite B Investments’ withdrawal from the government’s 200 PPP schools program, noted Barakat.

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