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Initial Public Offerings

Two state-owned firms will likely list shares on the EGX
15 September 02:34 PM EGX likely to see 4 IPOs before end 2019 – Official
By: Ahmed Allam Cairo – Mubasher: The Egyptian Exchange (EGX) is expected to witness four companies listing their shares in initial public offerings (IPOs) before the end of 2019, head of central department for corporate finance at the Financial …
Acwa Power's headquarters
11 September 05:04 PM Saudi PIF negotiates higher stake in Acwa Power
Riyadh – Mubasher: Saudi Arabia’s Acwa Power Company is in talks with Public Investment Fund of Saudi Arabia (PIF) to increase the fund’s stake in the company to 35% from 25%, Acwa’s chairman, Mohammad Abdullah Abunayyan, stated on Wednesday …
Saudi IPOs market soared in 6M
10 September 08:18 PM Saudi M&As amount to $72.6bn in H1-19
Dubai – Mubasher: The value of Saudi Arabian mergers and acquisitions (M&A) market surged to $72.6 billion during the first six months of 2019. The boom in the kingdom’s M&A market was based on a mega acquisition conducted by Saudi Aramco, …
The company will wait to meet expected profitability before making a final decision on the IPO
4 September 11:54 AM Sobha Realty to file for IPO in 2022
UAE – Mubasher: Sobha Realty, a premium real estate developer based in Dubai, intends to file for an initial public offering (IPO) in 2022, the Banker Middle East reported. The company will wait to meet expected profitability before making a final …
The second phase of the programme include ten state-run companies
1 September 11:19 AM Egypt postpones 2nd phase of privatisation programme to early 2020
Cairo – Mubasher: Egypt’s second phase of state privatisation programme has been postponed from the planned date of September to January 2020, the country’s the public enterprise minister Hisham Tawfik told Enterprise. “Some procedures have taken …
Growthgate Capital had acquired a 33.3% stake in Averda in 2008
22 August 01:43 PM Dubai's Averda Int’l in talks with banks over $700m potential IPO
UAE – Mubasher: Dubai-based Averda International, a leading waste management firm based in Dubai, is in preliminary talks with banks over a $700 million potential initial public offering (IPO), Reuters reported, citing two sources familiar with …
The offering’s value may amount to $400m
20 August 04:14 PM Banque du Caire to offer 40% stake early 2020
By: Abdullah Bedeir  Cairo – Mubasher: Banque du Caire is expected to offer 30%-40% of its shares on the Egyptian Exchange by the end of 2019 or the beginning of 2020, chairman Tarek Fayed said. The offering’s value may range from $300 million to …
Lazard and Moelis have started preparatory work on the offering
20 August 03:15 PM Saudi Aramco picks Lazard, Moelis for its IPO
Riyadh – Mubasher: Saudi Arabian Oil Company, known for Saudi Aramco, has selected Lazard, the world's leading financial advisory and asset management firm, and Moelis & Co, the global independent investment bank to advise on the oil giant’s …
Around 10% of the offering will be allocated to a private equity investor
19 August 04:47 PM Heliopolis Housing plans to float 25% of shares on EGX
By: Heba El-Kordy Cairo – Mubasher: Heliopolis Company for Housing and Development plans to offer 25% of its shares on the Egyptian Exchange (EGX), the real estate firm’s managing director, Sahar Al-Damaty, told Mubasher. Around 10% of the …
Fawry has recently offered 36% of its shares on the Egyptian bourse
19 August 03:48 PM Private firm to go public before end 2019 – EGX chairman
Cairo – Mubasher: An Egyptian private company is expected to float its shares in an initial public offering (IPO) on the Egyptian Exchange (EGX) before the end of 2019, the EGX’s chairman Mohamed Farid said. It is noteworthy that Fawry for Banking …
The company will be established with a capital of EGP 100 million
19 August 02:22 PM Egypt’s ITDA mulls offering wholesale market firm in IPO
Cairo – Mubasher: Egypt’s Internal Trade Development Authority (ITDA) is currently considering the flotation of the to-be-established wholesale market management company in an initial public offering (IPO) in the coming period, the Middle East …
The Egyptian gov't is activating its IPOs programme
8 August 05:49 PM NBE receives license to promote, cover IPOs on EGX
Cairo – Mubasher: The National Bank of Egypt (NBE) has been licensed by the Financial Regulatory Authority (FRA) to promote and cover initial public offerings (IPOs) on the Egyptian Exchange (EGX), the Middle East News Agency (MENA) reported on …
Fawry’s retail offering was oversubscribed by 30 times
8 August 02:35 PM Egyptian investors make up 80% of Fawry’s IPO
Cairo – Mubasher: The Egyptian Exchange (EGX) on Thursday announced that Fawry for Banking Technology and Electronic Payments has offered 254.6 million shares, representing 36% of the company’s share capital, at EGP 6.46 per share, with a combined …
Buy orders have been placed on 1.06 billion of Fawry’s shares
5 August 04:46 PM Fawry’s retail offering oversubscribed by 30 times – Sources
By: Ahmed Allam Cairo – Mubasher: The retail offering for the initial public offering (IPO) of Fawry for Banking Technology and Electronic Payment’s shares on the Egyptian Exchange (EGX) was oversubscribed by 30.3 times, informed sources told …
Trading on Fawry’s shares is expected to began on 8 August
4 August 05:12 PM Fawry receives buy orders for 250.6m shares
By: Ahmed Allam Cairo – Mubasher: A total of 881 buy orders were placed on 250.6 million of Fawry for Banking Technology and Electronics Payments’ shares in the initial public offering (IPO), sources told Mubasher. The private placement of Fawry’s …
The offering includes 36% of Fawry’s shares
1 August 10:48 PM Fawry’s offering oversubscribed by 16X
Cairo – Mubasher: EFG Hermes has announced that the offering of Fawry for Banking Technology and Electronic Payment’s shares on the Egyptian Exchange (EGX) was oversubscribed by 15.9 times, generating EGP 7.1 billion ($431 million). The offering …
The financial technology firm plans to increase its capital by 10-15%
30 July 01:11 PM Pharos, Renaissance Capital selected to manage e-finance’s IPO
By: Ahmed Allam Cairo – Mubasher: Egypt's e-finance, majority owned by the state-owned National Investment Bank (NIB), plans to float a stake on the Egyptian Exchange (EGX) through a capital raise, the company’s chairman Ibrahim Sarhan told …
The stock was listed on Tadawul under the symbol 4292
29 July 01:57 PM Ataa Educational to start trading on Tadawul on Wednesday
Riyadh – Mubasher: Ataa Educational Company will start trading on the Saudi Stock Exchange (Tadawul) on Wednesday, 31 July. The stock was listed on Tadawul under the symbol 4292, and a 10% daily price fluctuation limit, according to Tadawul’s …