Beltone has plans for two IPOs this year, partners with Renaissance Capital to bid on state IPOs

IPO WATCH- Beltone Financial has two IPOs in the pipeline for execution before the end of the year worth a combined EGP 3 bn, CEO Bassem Azab told Al Mal. Both listings are destined for the EGX, one in the pharma sector and the other in real estate. Azab also notes that Beltone will be partnering with emerging and frontier specialists Renaissance Capital to bid mandates to take state-owned companies public. Beltone has as many as eight IPOs in the pipeline for 2017 and 2018, Azab said in an interview with Al Borsa, bringing the total estimated value to EGP 20 bn. Azab noted that Beltone is actively looking to start a leasing business but still deciding on whether to go the greenfield route or to acquire an existing player.