IPO WATCH- Sarwa Capital to list 40% of its shares by early 4Q2018: Our friends at Sarwa Capital announced yesterday (pdf) that they plan to list 40% of the company’s shares on the EGX by late 3Q2018 or early 4Q2018. The IPO will consist of an international offering to global institutional investors and a retail offering here in Egypt. The offering will also include a secondary sale of existing shares held by Sarwa’s current stakeholders. The transaction, which is valued at around EGP 2.1 bn, is expected to see the Egyptian American Enterprise Fund, an anchor shareholder in Sarwa, sell off a portion of its stake, as we noted previously. “For 17 years since the founding of the business, we have worked tirelessly to build a strong institution that can serve all its stakeholders and partners. We look forward to continuing our growth story as a public company and to building a diverse institution that is truly tied to its market,” said CEO Hazem Moussa.

Advisers: Beltone Investment Banking is acting as sole global coordinator and bookrunner for the transaction, and Matouk Bassiouny has been tapped as legal counsel.