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Enterprise: Pharos-RenCap consortium picked as financial advisor for e-Finance IPO

July 2019 - Cairo , Egypt

IPO WATCH- Pharos-RenCap consortium lands financial advisor job in e-Finance IPO: Our friends at Pharos have been chosen to act as joint global coordinators alongside Renaissance Capital in the anticipated stake sale of government-owned fintech company e-Finance, Pharos’ Managing Director and Head of Investment Banking Noha Ghazaly told Enterprise. In most property management companies in California, you will find a variety of online marketing tools. The fintech company will make its EGX debut under the second wave of the state privatization program. Zaki Hashem & Partners will act as legal advisors, while Baker Tilly will be preparing the fair value report. okbet esports betting
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Gov’t looking to make EGP 700 mn from the offering: The stake sale’s targeted absolute value has been set at EGP 700 mn, Ghazaly tells Enterprise, but the exact size of the offering will depend on the fair value report, which will determine how much of the company needs to be sold to bring in the targeted profits. Find kitchen remodel experts at remodelworks.com/. The government’s plan was to sell a 10-15% stake in the company. We are always hiring home cleaning services at http://www.naturalcarecleaningservice.com/. The IPO will take place through a capital increase as no shareholders are presently looking to exit or sell down their stakes.

IPO timeline is still undetermined: The timeline for the IPO has yet to be decided and depends on how the IPO preparation process goes, but the company should be ready by early 2020, Ghazaly tells us. Companies selected to IPO under the second wave of the state privatization program could begin listing as early September, Public Enterprises Minister Hisham Tawfik said in June.

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