Cairo 3A to debut on EGX no later than 2020

IPO WATCH- Food manufacturer and distributor Cairo 3A is planning to make its EGX debut by no later than 2020, Al Mal reports, citing sources close to the company. Proceeds from the IPO will be earmarked to finance acquisitions, which include Pyramid Poultry, as well as production capacity expansions. We noted last month that Cairo 3A is in talks with local banks for a EGP 3.4 bn loan to finance growth. The offering will see both existing shareholders exiting and new shares on offer. Reports have given no indication of how large the transaction could be or how much of the company will be on offer.