Back to the complete issue
Monday, 26 March 2018

B Investments retail tranche offering 84.4x oversubscribed

IPO WATCH- The retail tranche of B Investment’s initial public offering was 84.4x oversubscribed when bookbuilding concluded at the close of yesterday’s session, Youm7 reports. BPE Holding for Financial Investments (better known as B Investments) is hoping to raise EGP 460 mn from the sale of 43 mn shares, good for a free float of about 27% (retail offering of 5,000,000 shares and private placement of 38,131,554 shares). The company will use the proceeds to fund investments in renewable energy and non-banking financial services. B Investments is expected to begin trading on the EGX on 29 March. Sigma Capital is the sole coordinator and bookrunner, while Zaki Hashem & Partners are acting as legal counsel to the issuer.

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. © 2021 Enterprise Ventures LLC.