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Thursday, 18 October 2018

Giza Spinning to kick off IPO roadshow “soon” ahead of December offering

IPO WATCH- Giza Spinning to kick off IPO roadshow “soon” ahead of December offering: Privately-owned Giza Spinning and Weaving is finalizing the plans for an international roadshow for its IPO, which is slated for December, sources with knowledge of the matter tell Al Mal. The roadshow will take the company to Saudi Arabia, the UAE, London, South Africa, and the US. BDO is conducting the fair value report, which should be ready by the end of November. The company had announced in August its plans to list a 40% stake on the EGX, the proceeds of which will be used to finance a EGP 250 mn project to expand its yarn and garment production capacities.

Advisers: Beltone Financial is serving as global coordinator and bookrunner and Matouk Bassiouny is legal counsel to the issuer.

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