Galina-Agrofreeze starts process of launching two subsidiaries on EGX
IPO WATCH: Galina-Agrofreeze approaches Pharos, EFG to list two of its subsidiaries on the EGX: Galina-Agrofreeze Fruits & Vegetables has approached investment banks, including Pharos Holdings and EFG Hermes, to manage the planned listing of two of its subsidiaries on the EGX, Chairman Abdel Wahed Soliman tells Al Mal. Galina has yet to determine the size and values of the listings, which the company will decide with the investment bank it taps to quarterback the transaction.
The IPO has been in the making for a year: Galina Company for Vegetables and Frozen Fruits will be listed first, followed by Galina for the Production of Fruit and Tomato Concentrates. Galina has been looking to list in the EGX for the past year when it planned to delist from the small- and mid-cap stock exchange (Nilex).