ENPPI’s IPO in Q4 2017

CAIRO – 10 July 2017: The initial public offering (IPO) of the Engineering Co. for the Petroleum & Process Industries’ (ENPPI) will be in the fourth quarter (Q4) of 2017, executive director of investment bank CI Capital Mahmoud Attallah said Sunday.

Around 24% of ENPPI’s shares will be listed on the bourse, Attallah added during an interview with talk show host Lamees Al Hadidy’s on the “Hona Al Assema” show.

Attallah noted that issuing a global depository receipt (GDRs) is also possible.

Last week, a consortium led by investment bank CI Capital awarded the investment consulting contract to list some of ENPPI shares in the Egyptian Exchange.

The consortium includes US-based Jefferies Group, Emirates NBD and state-owned NI Capital.

The investment bank would take over the selling and promotion of the IPO.

With the aim of expanding their capitals, the Egyptian government is planning to list shares of a number of public companies on the stock market. In September, Misr Fertilizers and Production Company (MOPCO) was listed on the exchange.