Back to the complete issue
Sunday, 16 September 2018

An update on fall IPOs of Sarwa, Hassan Allam, Rameda

**#4 IPO WATCH- Update on the fall season. The public subscription notice for Sarwa Capital’s sale of up to 40% of the company’s shares on the EGX should be out soon, sources close to the transaction said on Thursday. Youm7, meanwhile, suggests that Sarwa should wrap bourse paperwork necessary for its offering within a week. CEO Hazem Moussa had previously pegged the transaction’s value at USD 120-125 mn. Hassan Allam Holdings and pharma manufacturer Rameda Pharma have reportedly also submitted their paperwork to the EGX ahead of their planned IPOs, the sources added. We had previously been told that Rameda was hoping to list 35-45% of the company to raise EGP 1.9-2.3 bn. We had also heard chatter last month that Hassan Allam was eyeing an October offering that may also include a global depository receipt program.

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; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.