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IPO WATCH- Zaki Hashem gets Enppi mandate: Zaki Hashem & Partners has been appointed as domestic counsel to Engineering Company for Petroleum & Process Industries (Enppi) in the latter’s upcoming local and international offering of shares, we’re told. The Enppi IPO is one of the pilot transactions for the state’s privatization program
Author Archives: enterpriseam admin
Posted inSpeed Round
Unnamed foreign bank interested to fund Raya MTO
M&A WATCH- Int’l bank may back Medhat Khalil’s take-private bid for Raya: An unnamed international investment bank could finance Medhat Khalil’s bid to take Raya Holding private, Khalil said, according to Masrawy. The bank is one of four financiers Khalil had approached since the Financial Regulatory Authority ordered him last October to mount a mandatory […]
Posted inSpeed Round
Egypt’s Nawah Scientific raises USD 1 mn pre-series ‘A’ round
INVESTMENT WATCH- Cairo-based Nawah Scientific has raised USD 1 mn in a pre-series ‘A’ funding round, Menabytes reports. The round was led by Endure Capital and joined by 500 Startups, Averroes Ventures and Egypt Ventures. Founded in 2015, Nawah bills itself as “the first, private, multidisciplinary research center in Egypt catering for natural and medical […]
Posted inSpeed Round
IFC says invested USD 1 mn in Vezeeta in September fundraising round
INVESTMENT WATCH- The International Finance Corporation invested USD 1 mn in Vezeeta as a follow-on investment to a September series ‘C’ fundraising round in which the online platform raised USD 12 mn, it said in a statement. Vezeeta, an app that helps connect patients with physicians, aims to use the funding to strengthen its operations […]
Posted inSpeed Round
Matouk Bassiouny closes AED 420 mn rights issue for Ajman Bank in UAE
ECM WATCH- Matouk Bassiouny & Ibrahim has closed a rights issue for Ajman Bank, the UAE-basedshariah-compliant lender, the firm said in a statement. The transaction raised nearly AED 420 mn in a fully-subscribed rights issue. Emirates NBD Capital was lead manager and sole bookrunner for the transaction, while Emirates NBD was lead receiving bank. Ahmed […]
Posted inSpeed Round
Africa Forum 2018 kicks off, Egypt inks agreements
The Africa Forum 2018 in Sharm kicked off yesterday. Among the takeaways from the many announcements of the past 24 hours: EBRD is backing accelerators Falak, EFG-EV Fintech and Misr El Kheir, offering advisory support to each of them and their portfolio companies, the institution said in a statement (pdf). Falak Startups signed an MoU […]
Posted inSpeed Round
Egypt parliament to discuss legislative amendments to clamp down on high prices
LEGISLATION WATCH- House puts high prices and “monopolistic practices” in the crosshairs as state launches crackdown on price gougers: The House of Representatives is scheduled to discuss today proposed amendments to the Supply Affairs Law and the Egyptian Competition Act in a bid to curb the rising price of basic goods and commodities, Ahram Online […]
Posted inSpeed Round
Cabinet likes amended Customs Act, Egypt to receive EUR 148 mn from EBRD
CABINET WATCH- Cabinet gives preliminary nod to Customs Act amendments: The Madbouly Cabinet has approved “in principle” amendments to the Customs Act, according to a statement. The amendments should create an expedited track for customs clearance, a ‘whitelist’ of trusted importers, and broaden the Customs Authority’s discretion. The government is expected to introduce the proposed […]
Posted inSpeed Round
Egypt to pass Unified Building Code, building code violation bill next month
LEGISLATION WATCH- Unified Building Code, temporary law on building code violations to be issued next month: The House of Representatives expects to pass the Unified Building Code and a temporary law on settling building code violations together sometime next month, House Housing Committee member Rep. Ismail Nasr El Din tells Al Shorouk. The executive regulations […]
Posted inSpeed Round
Egypt working on amendments to trademark law to protect investors, consumers
LEGISLATION WATCH- Expect amendments to the trademark law? The Internal Trade Development Authority is working on amendments to the trademark law, which it plans to send to the House of Representatives for review, said agency head Ibrahim Ashmawy, according to Al Ahram. The current law doesn’t require businesses to register a trademark for their activities […]