Rooya Holdings is still working on completing regulatory requirements ahead of planned IPO

IPO WATCH- Rooya Holding Investments is working on completing the regulatory requirements to move ahead with its planned IPO on the EGX, parent company Pioneers Holding said in a statement to the EGX yesterday (pdf). Reports had emerged last July that Rooya had filed to list 30% of its shares on the bourse. Pioneers CEO Walid Zaki then announced in December that Pioneers plans to list 40% of its subsidiary in 1H2018. Rooya had reportedly tapped Baker & McKenzie’s Cairo partner, Helmy, Hamza & Partners, as legal advisor for the potential transaction.