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Thursday, 2 August 2018

HyperOne looks towards 2019 listing

IPO WATCH- HyperOne mulling 2019 listing: Retail chain HyperOne is considering making its EGX debut by the end of 2019, founder and chairman Mohamed El Hawary tells Amwal Al Ghad in an interview. He provided no additional details on the size or timeline for the transaction, adding only that the group is pursuing a number of prospects as part of its ongoing expansion plans, which include opening new branches at a total investment cost of EGP 2 bn. Among the first: a EGP 500 mn branch in Solaimaneyah City. El Hawary had previously denied reports claiming that the company was looking to sell a controlling stake to foreign investors. Reports had claimed that Pharos Holding was hired as a sell-side advisor, with Al Tamimi & Co. as legal counsel.

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