NI Capital invites investment banks to advise on Sidpec share sale: State investment bank NI Capital has invited top investment banks to bid on the role of adviser for the sale of 30% of Sidi Kerir Petrochemicals (Sidpec), government sources tell Al Mal. The sources noted that banks that were invited were those whose brokerage arms were in the top five of the brokerage league tables, which we can safely assume will include the likes EFG Hermes, CI Capital, and Beltone Financial. NI Capital had already lined up the advisers for Alexandria Containers and Cargo Handling Company (ACCH) and Abu Qir Fertilizers — the other companies that will see stake sales as part of the state privatization program. EFG Hermes and Citi are advising on the stake sale of ACCH, while Abu Qir is being advised by Renaissance Capital and CI Capital. Share sales are not expected to take place before September, Public Enterprises Minister Hisham Tawfik told us.

Competition to advise on e-Finance IPO heats up: In other news on the state privatization program, government e-payments firm e-Finance is currently deciding on bids from EFG Hermes, CI Capital, Pharos Holdings, Beltone, and Renaissance Capital for the mandate to advise on its IPO, the local press reports. A decision on the mandate will be taken during the next meeting of the government committee managing the state privatization, sources said without revealing when the meeting will take place. e-Finance has reportedly chosen Baker Tilly Wag to conduct the fair value report. Reports in the local press had noted that the government is planning to sell 10-15% of e-Finance in an IPO during 4Q2019.