IPO WATCH- EBRD could snag 20% of shares offered in ACCH stake sale: The European Bank for Reconstruction and Development (EBRD) is considering purchasing around a fifth of the shares that will be offered in the secondary stake sale of Alexandria Container and Cargo Handling (ACCH), deputy head of EBRD’s Egypt office Khalid Hamza told Al Mal. The bank is waiting on central management’s approval and for the offering’s details to decide on the exact size of their investment in the stake sale.

Background: EBRD has previously expressed interest in participating in ACCH share sale, which will reportedly see the government offer 20% of the company’s shares at EGP 15.6 apiece as part of its privatization program. Sources said that 15% of the company’s shares will be allocated to institutional investors in a secondary offering and the remaining 5% will be offered publicly on the EGX. EFG Hermes and Citi, who are advising for ACCH, concluded roadshows in London and Dubai last month and will soon visit the US.