Author Archives: enterpriseam admin

** #2 FinMin kicks off Asia roadshow ahead of planned eurobond issuance, will also tap European investors: The Finance Ministry has launched a nondeal roadshow in Asia that is meant to help Egypt attract new investors to its debt market ahead of an anticipated USD 5 bn eurobond sale, according to a ministry statement (pdf). […]

** #4 IPO WATCH- CI Capital, Jefferies, Emirates NBD sign contracts to lead Enppi IPO: CI Capital, Jefferies International Limited, and Emirates NBD have signed contracts to manage state energy contractor Enppi’s planned IPO, the Oil Ministry said in a Friday statement. The IPO will see Enppi offer for sale up to 24% of its […]

IPO WATCH- IWAN Developments looks to list after restructuring: Real estate developer IWAN Developments is currently setting up a holding company to consolidate its subsidiaries and plans to list the new company on the EGX, CEO Waleed Mokhtar tells Amwal Al Ghad. Mokhtar did not provide further details on the expected size or timing of […]

** #5 Euromoney pens love letter to Egyptian investment banks: After singing the praises of EFG Hermes, which has led the Egyptian industry’s push into both non-bank financial services and regional markets, Euromoney notes in its mash letter that “Beyond EFG Hermes, long the unrivalled leader of Egyptian investment banking, firms such as CI Capital […]

** #6 Rencap’s Ahmed Badr goes back to Credit Suisse to lead push into KSA: Our friend Ahmed Badr is set to rejoin Credit Suisse in Dubai four years after joining emerging and frontier specialist Renaissance Capital. Badr led Rencap’s push into Mideast markets and was a consistent advocate of the Egypt story, spearheading Rencap’s […]

INVESTMENT WATCH- Russia’s TMH to build USD 100 mn factory to manufacture railway cars in Egypt: Russia’s Transmashholding (TMH) is looking to establish a USD 100 mn facility in Egypt to manufacture railway cars, the company’s local representative, Hamdy Abdel Hamid, told Al Shorouk yesterday. Talks are currently ongoing to establish the factory within a […]

LEGISLATION WATCH- Public Enterprises Act amendments completed: The Public Enterprises Ministry has completed drafting the amendments to the Public Enterprises Act that could open the door for the government to list state holding companies, Minister Hisham Tawfik tells Al Masry Al Youm. He did not disclose details of the proposed amendments, which he said will […]

** #7 EXCLUSIVE- Is the FinMin trying to up the tax on fun? Members of the Federation of Egyptian Industries’ (FEI) Cinema Industry Chamber met with the Finance Ministry last week to discuss proposed legislation that would raise taxes collected on entertainment venues including cinemas, theaters, and nightclubs, government sources told Enterprise yesterday. In addition […]