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Thursday, 16 January 2020

E-Finance to begin IPO procedures in March

IPO WATCH- E-Finance to begin IPO procedures in March: State-owned e-payments platform E-Finance is expected to be ready to begin taking the final steps towards debuting on the EGX by March, Chairman Ibrahim Sarhan tells Hapi Journal. According to Sarhan, the company will complete the necessary legal procedures and fair value study by the end of the month, which will then be presented at a general assembly meeting scheduled to take place in March. Domestic press reports last week had suggested the IPO could go to market by April, while Sarhan had suggested last month that it could happen during the first three months of the year.

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.

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