Dubai - Mubasher: Egypt's investment bank EFG-Hermes plans to run a new initial public offering (IPO) on Cairo bourse before the end of the first half of 2016, said Mostafa Gad, EFG Hermes' investment banking director.

EFG-Hermes was mandated to promote the IPO of the Arab Food Industries Company (Domty) both inside and outside Egypt.

“We can’t determine specific figures in respect to the value of the new IPO, but it won’t be below Domty’s offer,” said Gad on the sideline of economic conference held in Dubai.

EFG-Hermes currently works on arranging two acquisition deals within Egypt’s retail and food sectors, pointed out Gad.

“We expect to finish these acquisition deals through the first half of 2016,” said the official.

In 2015, EFG-Hermes successfully managed around four IPOs for Orascom Construction, Edita Food Industries, Emaar Misr, and Integrated Diagnostics Holdings.