IPO WATCH- Rooya Real Estate Investment Company appears to have tapped Baker McKenzie’s local partner, Helmy, Hamza & Partners, as legal adviser on the its IPO of 30% of its shares, sources tell Al Borsa. The newspaper says Arab African International Bank has also been selected to advise on the IPO, but doesn’t specify in what capacity. Grant Thornton will carry out the fair value assessment. Pioneers Holding, which currently owns 60% of Rooya, had said that it was in talks with investment banks to decide on a lead manager for the IPO. The company expected the listing to take place by October.

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