IPO WATCH- CI Capital says it has 4 EGX IPOs in the pipeline for this year: Investment bank CI Capital says it has as many as four share sales by Egyptian companies on the EGX in the pipeline for execution this year, including minority stakes in two state-owned firms, co-CEO Hazem Badran said yesterday, according to the local press. Speaking on the sidelines of the bank’s MENA investors conference, Badran said the bank would take charge of a secondary stake sale by the state-owned Abu Qir Fertilizers Company and manage Enppi’s initial public offering. Enppi and Abu Qir are among the 23 companies included within the government’s privatization program announced back in 2018. Abu Qir is likely to be up first, Badran said, because the company is already listed on the exchange.

The investment bank also plans to manage the listing of a EGP 1 bn private sector food company, and an unnamed education firm. We’re putting our money on this being Taaleem for Consulting and Educational Services, which Badran said in October would be listed within the coming two years.

In other EGX news: Porto Group, Dice, and GB Auto have been upgraded to the EGX30 index following the bourse’s semiannual review, the EGX said in a statement (pdf). The Oriental Weavers, Abu Dhabi Islamic Bank, and the Egyptian Iron and Steel Company have all been downgraded.