Sarwa Capital reveals IPO plans on Egyptian Exchange

CAIRO – 28 August 2018: Sarwa Capital, the leading provider of consumer and structured finance solutions in Egypt, targets launching an initial public offering on the Egyptian Exchange.

According to a statement by Sarwa on Monday, the offering will consist of, both, a primary offering of newly issued shares and a secondary offering of existing shares held by the company’s current shareholders constituting up to 40% of Sarwa Capital’s total shares.

Beltone Investment Banking will act as the sole global coordinator and bookrunner of the offering, while Matouk Bassiouny will act as a legal counsel in connection with the offer.

Founded in 2001, Sarwa Capital offers a full range of consumer finance focused products and structured credit finance services for both retail and commercial clients. Sarwa operates under its own brands in addition to other white-labelled brands in partnership with major Egyptian corporations.

Through its various subsidiaries, Sarwa has financed over LE 15 billion in assets, generating a 5-year net profit CAGR of 52% from 2013 to 2017.

“We look forward to continuing our growth story as a public company and to building a diverse institution that is truly tied to its markets,” Sarwa Capital’s CEO, Hazem Moussa, said.

“With a strong organizational structure instilled through a capable team and supported by a long history of hosting institutional shareholders including Commercial International Bank (CIB), Banque Misr, Concord International Investments, Amwal Al Khaleej, and current shareholders the Egyptian American Enterprise Fund; we feel well prepared for this next milestone,” he added.