Back to the complete issue
Sunday, 3 June 2018

Al Ahly Capital eyes EGP 3 bn worth of EGX-listed stake sales

Al Ahly Capital is planning to divest stakes in a number of its EGX-listed subsidiaries worth EGP 3 bn “in the coming period,” Head of Investment Karim Aboul Naga tells Al Mal. The move comes as part of the restructuring underway ahead of the government’s privatization program, which begins this month. Al Ahly holds shares in a number of companies on the roster, including Sidi Kerir Petrochemicals, Alexandria Minerals and Oils Company, and Abu Qir Fertilizers. The investment bank plans to use the proceeds of the stake sales to enter new investments in health, agriculture, and non-banking financial services.

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.