Cairo – Mubasher: Hassan Allam Holding has hired three investment banks to arrange its potential initial public offering (IPO) on the Egyptian Exchange (EGX).

EFG Hermes and Renaissance Capital will be working jointly as global coordinators of the IPO, while Arqaam Capital will act as the bookrunner, sources familiar with the matter told Enterprise Press.

EFG Hermes and Renaissance Capital may also serve as bookrunners of the IPO, sources added.

The law firm Matouk Bassiouny will be the legal advisor to the issuer, sources pointed out.

The company has not appointed an international advisor yet, and the size of the offering has not been determined yet.

Hassan Allam declined to comment on the matter, saying it will announce further details once shareholders make a decision that could be disclosed in accordance with laws and regulations.