IPO WATCH- Egyptian electronics manufacturer SICO is planning to list shares on the EGX within three years, CEO Mohamed Salem tells Reuters’ Arabic service, without providing any further details on the potential share sale. The company had denied reports back in February that it was eyeing an IPO, but Salem tells the newswire that the step is “necessary.” SICO also plans to capture a 17% market share, up from a current 2.7%, and double its capex and production output, he said. The company launched the first Egyptian-assembled tablet last week, around four months after it began selling its locally assembled smartphone, Nile X. SICO’s expansion plans will also see the company exporting 60% of its output by focusing on Gulf and African markets. Nile X is currently sold in the UAE and will debut in Saudi Arabia, Kuwait, and Oman over the coming few months.

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