Local investment banks bid for Enppi’s listing

IPO WATCH- Investment banks including Pharos Holding, HC, Cairo Financial Holding, and Prime are bidding for a piece of Enppi’s listing on the EGX, Al Mal reports. CI Capital, Beltone, and Arqaam Capital have already presented bids to NI Capital to manage the issuance, and both EFG Hermes and Renaissance Capital are interested, we’re told. The issuance will reportedly have domestic and international lead arrangers, suggesting that international outfits including HSBC, Bank of America Merrill Lynch, and JPMorgan are interested. The global coordinators of the transaction are expected to be announced on 3 July.