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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.

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