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EFG-Hermes says to launch two IPOs in 2015

EFG-Hermes says to launch two IPOs in 2015
Photo Credit: Arabianeye - Reuters
EFG Holding
HRHO
-2.43% 17.66 -0.44

By Ahmed Allam

Cairo – Mubasher: EFG-Hermes Holding, a leading investment group, is targeting the flotation of two companies on the Egyptian Exchange during 2015, which include Emaar Misr and a foodstuff industries company, revealed Moustafa El Chiaty, executive director.

Speaking during an investors’ summit held Tuesday in Cairo, the official added that the foodstuff industries firm is a major player in the private sector and is likely to go public by the end of 2015 or in early 2016.

The stock fair value is currently being defined and relevant studies are being completed, said El Chiaty, declining to give further details.

The local bourse held Tuesday its IPOs conference for the second successive year, as it targets to present it strategic plan to boost the economic development through enabling public and private companies to finance their expansions.

Translated by Sayed Abdel Rahman