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Monday, 9 July 2018

Lincom Investments planning IPO on the EGX this year or early 2019

EXCLUSIVE- Lincom Investments planning IPO on the EGX this year or early 2019: Red Sea-focused real estate investment firm Lincom Investments is planning to offer as much as 25% of the company in an IPO on the EGX sometime toward the end of 2018 or early in 2019, company Chairman and Managing Direct Ehab El Hattawy told Enterprise on Sunday. The firm has already undergone a restructuring ahead of the listing, with First Financial Consulting and KPMG Hazem Hassan’s consulting arm advising. Lincom is currently in the market for an investment bank to manage the IPO, said El Hattawy. The firm plans to use the proceeds from the sale to invest in properties in Hurghada and the Red Sea, including a EGP 120 mn expansion of its Blue Whale resort.

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