Author Archives: enterpriseam admin

IPO WATCH- Book-building for B Investments retail offering will launch today: Our friends at BPE Holding for Financial Investments (better known as B Investments) will begin taking orders for the retail offering of 5,000,000 shares today as part of the book-building process to list a total of 43,131,554 shares this month. Bookbuilding for the private […]

IPO WATCH- Carbon Holdings has tapped EFG Hermes to run its IPO, which is scheduled to take place by December, unidentified sources tell Al Borsa. The size of the listing remains undetermined. The stake sale is likely to be the largest IPO in Egypt since 2011, although the company has yet to settle on the […]

Gov’t hires advisors for first euro-denominated bond sale: BNP Paribas, Deutsche Bank, Standard Chartered, and Intesa Sanpaolo will manage Egypt’s first euro-denominated bond sale, the Finance Ministry said in a statement on Monday. The issuance will be worth EUR 1-1.5 bn and slated for before the start of FY2018-19. Al Tamimi & Co. and Dechert […]

Amended Capital Markets Act now law, paves the way for new financial instruments and exchanges: Amendments to the Capital Markets Act were published on the Official Gazette on Monday, making them officially the law of the land. The amendments, which were passed by the House of Representatives last month, pave the way for the introduction […]

When exactly are flights with Russia resuming? There are widely varying reports and information coming out on when exactly flights with Russia are coming. Moscow’s Domodedovo Airport added the Cairo-Moscow air route to its roster on 22 March. EgyptAir, has the first available flight taking off tomorrow. Russian airline Aeroflot still has no direct flights […]

India is considering providing Egypt with a USD 1 bn line of credit to finance local projects, India’s ambassador in Cairo Sanjay Bhattacharya, Al Shorouk reports. The funding would be part of a USD 10 bn line of credit India is extending to its African partners, USD 4.5 bn of which have already been disbursed […]

A subsidiary of Elsewedy Electric signed an EPC contract worth EGP 2.12 bn with the Egyptian Electricity Transmission Company. The agreement is for the Borg El Arab–Marsa Matrouh 500KV power transmission lines stretching a total length of 255 km. The agreement will be implemented over a six-month period commencing from the date of signing and […]

Is Abraaj going through a wave of defections? Ashish Dave, CFO of emerging markets focused PE giant Abraaj, has left the company. “I resigned six months ago to spend time with my family and pursue other opportunities,” he told Reuters on Sunday. A new CFO, appointed from within the company, would be announced soon, one […]

Scatec Solar lands Egypt transaction of the year for 2017 from Islamic Finance News: The company landed the award for its USD 335 mn project finance transaction for its six Benban solar projects. Shahid Law Firm was local legal advisor to Scatec on the financing, with Donia El-Mazghouny acting as lead partner. The transaction saw […]

Egypt wants to launch its own “Facebook”: Egypt has taken “active and positive steps” to create its own Facebook-like social media network, ICT Minister Yasser El Kady said yesterday during a Justice Ministry workshop on combating “terrorist propaganda”, Al Masry Al Youm reports. This comes less than a month after the Cabinet introduced its proposed […]