Sarwa Capital to sell up to 30% of shares in 4Q2018 -report

IPO WATCH- Sarwa Capital is planning to sell up to 30% of its shares on the EGX sometime in 4Q2018, sources reportedly told Al Mal on Tuesday. Our friends at Sarwa have reportedly hired Beltone Financial to lead the transaction, the newspaper reports, suggesting the offering will have a substantial international component. A financial adviser will be hired sometime this week to begin the fair value report, and Matouk Bassiouny is reportedly on board as legal counsel. Proceeds from the IPO are likely to go towards funding growth, the newspaper said, as the firm looks to launch insurance and factoring operations.