IPO WATCH- Telecom company Al Babtain looking to IPO in 2020: Al Babtain Power & Telecommunication Egypt (ABPTE), a subsidiary of Saudi Arabia’s Al Babtain Power & Telecommunication Company, is in the final stages of negotiations with a number of investors to offer a “substantial” stake in an IPO on the EGX next year, sources close to the matter told Al Mal. The parent company had agreed last month to sign a contract with Premiere Holding to advise it on the stake sale. ABPTE is currently studying several acquisition offers it has received and expects to reach an agreement by the fourth quarter of FY2019-2020, the sources said.

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