Back to the complete issue
Tuesday, 16 July 2019

NI Capital invites investment banks to advise on Sidpec share sale

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.

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.