Back to the complete issue
Monday, 7 October 2019

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).

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 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; Etisalat Misr (tax ID: 235-071-579), the leading telecoms provider in Egypt; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.