100 organizations oversubscribe BPE Investments’ offering

CAIRO – 29 March 2018: The private offering on BPE Holding for Financial Investments’ shares was oversubscribed by 100 local and international organizations, and high-net worth individuals from several Arab countries, including Kuwait and the UAE, Co-founder of the company Alaa Sabaa said.

This came during the opening of Thursday’s session when the trading on the shares started.

The opening session was attended by Chairman of BPE investments Hazem Barakat, Chairman of the Egyptian Stock Exchange Mohamed Farid, his Deputy Mohsen Adel, Regional Manager of Amwal Al Khaleej Kareem Saadaah, Investment Manager at BBI Investments Omar al-Labaan, Chairman of Sigma Investment Bank Ahmad Marwan.

Trading on BPE Holding for Financial Investments’ shares started on Thursday March 29, in the Egyptian Exchange (EGX).

BPE Investments’ initial public offering (IPO) was oversubscribed 84.4x by the end of Monday’s session through the sale of 422 million shares out of five million shares offered to the public offering.

The Egyptian Exchange set the period from March 29 to April 29 to open the market for the purchase of BPE Holding shares within the mechanism of stock price stability.

It announced that the IPO and private offerings are both oversubscribed by 100 percent after the issuance of five million shares in IPO and 38.13 million shares in a private offering.

The price of the company’s share in the offering is LE 10.75.

BPE Holding is hoping to gain LE 460 million from the sale of 43 million shares, with the aim to use the outcome of this IPO in financing projects in the renewable energy and non-banking financial services sectors.

Sigma Capital was the sole coordinator and bookrunner, while Zaki Hashem & Partners acted as the legal counsel to the issuer.

The company decided earlier to issue 35 percent of its LE 1.7 billion capital in EGX.

On March 6, Financial Regulatory Authority (FRA) approved the issuing program of BPE Holding for Financial Investments (BCAP), in preparation for the offering of the company’s shares in the Egyptian Exchange (EGX), to be the first public company to issue its shares in 2018.

BPE Holding for Financial Investments operates within the diversified financial sector focusing on investment banking & brokerage.

It has one subsidiary operating in Egypt, working on household appliances. BPE Holding for Financial Investments is based in Giza, Egypt, and was established in April 2006 through 18 domestic and foreign investors.

The investment portfolio of the company includes: Ebtikar Investment Finance, Total Egypt, Nasr City Housing and Development, Power Generation Engineering and Services Company (PGESCo), Giza Systems, Cairo Kidney Center, BIO Pharma Egypt, and Al-Ismailia for Real Estate Investment.