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Wednesday, 4 September 2019

Egyptian state-owned e-Finance roadshow to kick off before Christmas

IPO WATCH- e-Finance roadshow to kick off before Christmas: Advisors on the planned initial public offering of state-owned payments platform e-Finance are planning to kick off a roadshow before Christmas to drum up investor interest and brief them on the company’s business and management, sources close to the matter said. The “introductory” roadshow, which will be led by investment banks Pharos Holding and Renaissance Capital, will cover markets in European and Arab countries. The purpose is not to specify a share price target or set a ratio for the private and public components of the offering. The IPO of e-Finance is part of the second wave of the state privatization program, which consists only of IPOs. Public Enterprises Minister Hisham Tawfik told us last weekend that this wave will not take flight before January 2020.

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