Back to the complete issue
Thursday, 25 March 2021

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.

CATCH UP QUICK-

  • 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.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2021 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of Commercial International Bank (tax ID: 204-891-949), the largest private-sector bank in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; and Act Financial (tax ID: 493-924-612), the leading activist investor in Egypt.