Hassan Allam Holding taps advisors for potential IPO
EXCLUSIVE – Hassan Allam Holding taps advisors for potential IPO: Leading construction company Hassan Allam Holding has mandated three investment banks to run a potential IPO, including EFG Hermes and Renaissance Capital as joint global coordinators and Arqaam Capital as bookrunner, sources with knowledge of the transaction tell us. EFG Hermes and Rencap would also serve as bookrunners if an IPO goes forward. Cairo-based law firm Matouk Bassiouny is said have been appointed local counsel to the issuer, the same sources tell us. The domicile and size of the offering have yet to be determined and international counsel has yet to be appointed. Our friends at Hassan Allam Holding have in the past mentioned an intention to take the group public, but yesterday declined to comment, saying they would only have something to say once their shareholders have made a decision that could be disclosed in accordance with applicable laws and regulations. The group has recently grown to include a new utilities platform alongside its engineering & construction and building materials units.