Edge Holding eyes IPO in 2022
Edge Holding eyes IPO in 2022: Edge Holding Urban Development is looking to list on the EGX in 2022, Chairman Hazem Sherif reportedly told local press today. This comes as Edge Holding plans to increase its investments in the New Administrative Capital from EGP 9 bn to EGP 25 bn in the next three years. The company is currently meeting with advisors, though Sherif did not disclose whom.
The securitization of a EGP 1 bn receivables portfolio is also in the works: The Saudi Egyptian JV wants to securitize its OIA project portfolio worth EGP 1 bn next year. The returns will be invested in upcoming projects, such as a touristic project at the North Coast during 2021. Edge Holding is currently receiving offers from different banks and financing institutions to manage the securitized bond issuance.
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- MOVES- CI Capital adds board members from Banque Misr, CBE following acquisition: CI Capital has added to its board CBE Deputy Governor Rami Aboul Naga (Linkedin), Banque Misr Vice Chairman Akef El Maghraby (Linkedin), and Banque Misr Board Member Ahmed El Guindy (Bio), according to an EGX filing (pdf). The board shakeup comes after state-owned Banque Misr acquired 90% of CI Capital this month.