EFG-Hermes to manage BPE Partners IPO on EGX

CAIRO – 20 September 2017: Investment bank EFG-Hermes will manage the planned initial public offering (IPO) of BPE Partners, formerly known as Beltone Private Equity, in the Egyptian Exchange (EGX) in cooperation with Sigma Capital, Al Mal News reported Tuesday.

The newspaper highlighted that the EGX committee has approved in July 2015 listing the shares of the company with an issued and paid capital of LE 584.46 million, distributed over 58.44 million shares at a nominal value of LE 10 per share.

BPE Partners has decided to appoint EFG-Hermes along with Sigma to ensure the highest coverage rate of IPO, sources told Al Mal, expecting that floatation would be finalized by early 2018.

The company will offer a stake of 25-30 percent on the EGX.

Grant Thornton LLP will be managing the financial consulting works to set the fair value of share, while Zaki Hashem & Partners will be the legal consultant of the IPO, the newspaper added.

The aim of the IPO is to secure financial resources to implement an expansion plan and seize new opportunities in power and real estate sectors, sources told Al-Mal.

The portfolio of BPE Partners includes Ibtikar for Investment Finance, Total Egypt, Madinet Nasr Housing & Development, PGESCo (Power Generation Engineering and Services Company), Giza Systems, the Cairo Kidney Center, Bio Pharma Egypt and Al-Ismaelia for Real Estate Investment.