E-Finance to debut on EGX in April 2020?
PRIVATIZATION WATCH- E-Finance to debut on EGX in April? The government is planning to IPO state-owned e-payments platform E-Finance on the EGX by April 2020, the domestic press reports, citing unnamed sources. It is currently deciding on the size of the stake it will offer and expects to begin a fair value study within the next six weeks.
Advisors: Pharos Holding and Renaissance Capital are joint global coordinators. Zaki Hashem & Partners were previously reported to have been retained as legal advisors, while Baker Tilly was tapped to prepare the fair value report. Inktank is investor relations advisor.
Background: E-Finance and Banque du Caire are both being readied by the government for possible IPOs within the opening months of the year. BdC is expected to offer a 49% stake during the first quarter, with a roadshow due to kick off at some point this month. Meanwhile, E-Finance Chairman Ibrahim Sarhan suggested last month that his company could also make its market debut during the first three months of the year.