Hassan Allam plans to IPO by October, eyes dual listing
IPO WATCH- Hassan Allam eyeing October IPO Hassan Allam Holding’s planned IPO could go ahead as early as October and may include a global depository receipt program, the domestic press suggested yesterday, citing unnamed sources. The timeline for the transaction is contingent on approval from the Financial Regulatory Authority, which the sources said should come through in around two weeks’ time. Hassan Allam has yet to decide on the size of the offering. A senior company executive had previously told Enterprise that the transaction would include both existing shareholders offering equity for sale as well as the issuance of new shares in a capital increase.
Advisers: The company has tapped EFG Hermes and Renaissance Capital as joint global coordinators and bookrunners, and Arqaam Capital as bookrunner. Grant Thornton has been hired as independent financial adviser. White & Case is acting as international counsel and Matouk Bassiouny has been appointed local counsel to the issuer.