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Sunday, 16 December 2018

Hassan Allam aims to offer 30-35% of shares in 1H2019

IPO WATCH- Hassan Allam still on track for 1H2019 IPO of up to 35% of its shares: Hassan Allam Holding is expected to offer 30-35% of its shares on the EGX during 1H2019, sources told Reuters, suggesting the IPO will be the largest the country has seen since the end of 2016. The company had previously said it would offer as much as 44.3% of its shares in an offering that would include both ordinary shares on the EGX as well as global depository receipts on the London Stock Exchange.

Advisers: The company has tapped EFG Hermes and Renaissance Capital as joint global coordinators and bookrunners and Arqaam Capital as bookrunner. Shearman & Sterling is international counsel to the issuer, while White & Case is international counsel to the underwriters. Matouk Bassiouny is local counsel to the issuer while MHR & Partners, in association with White & Case, is local counsel to the underwriters. Inktank Communications is investor relations advisor.

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