IPO WATCH- Giza Spinning and Weaving pushes IPO to 3Q2019: Privately-owned Giza Spinning & Weaving Company has pushed to September at the earliest its sale of up to 40% of its shares on the EGX, Managing Director Fadel Marzouk said, according to the local press. Marzouk said the company is waiting for better market conditions for the transaction. The company had initially announced it was looking to IPO last November, but news reports later put the listing date in December 2018. Proceeds from the garment exporter’s IPO will be used to finance a EGP 250 mn project to expand its yarn and garment production capacities.

Advisors: Beltone Financial is serving as global coordinator and bookrunner and Matouk Bassiouny is legal counsel to the issuer.

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