Beltone Financial to manage IPOs of Misr Italia and Egypt Foods

IPO WATCH- As the 1H2016 IPO window draws to a close before a long, dry summer, Beltone Financial has been mandated to manager the IPOs of Misr Italia Group and Egypt Foods on the EGX, Al Mal reports. Beltone CEO Ahmed Salem says the investment bank is now preparing Misr Italia for listing and searching for an independent financial advisor; the listing will likely take place in 3Q2017. He says “20% or more” of the company’s shares will be listed to finance expansion plans. Salem also says Beltone Financial is looking to restructure Egypt Foods and get it listed before the end of the year.