B Investments to conclude sale of 27% of shares on 29 March as trading begins on EGX

IPO WATCH- Our friends at B Investments aim to conclude their sale of 27% of the company’s shares on 29 March: Trading in BPE Holding for Financial Investments (better known as B Investments) shares will begin on 29 March, the company said on Wednesday, according to Reuters. The company is selling 43 mn shares, good for a free float of about 27%. B Investments hopes to raise EGP 460 mn through the IPO, which will be used to fund renewable energy projects and non-banking financial services. Bookbuilding for the private placement of 38,131,554 shares and for the retail offering of 5,000,000 shares will conclude on 25 March. Sigma Capital is the sole coordinator and bookrunner, while Zaki Hashem & Partners are acting as legal counsel to the issuer.