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Monday, 7 December 2020

NBFS player Ebtikar plans 1Q2021 IPO

Ebtikar plans to list a 25-30% stake when it makes its EGX debut in 1Q2021, the local press reports, citing people familiar with the matter. The final size of the offering will be announced after the company wraps up a fair value study, the sources added. Ebtikar is a non-bank financial services firm and joint venture between B Investments and MM Group. MM Group is also planning an EGX debut for a fintech subsidiary recently set up following a merger of two of its separate e-payments businesses, Bee and Masary.

Advisors: MM Group has tapped EFG Hermes as financial advisor on the transactions.

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