{"id":560615,"date":"2021-03-07T04:02:06","date_gmt":"2021-03-07T04:02:06","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/07\/shaking-off-the-cobwebs\/"},"modified":"2021-03-07T04:02:06","modified_gmt":"2021-03-07T04:02:06","slug":"shaking-off-the-cobwebs","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/07\/shaking-off-the-cobwebs\/","title":{"rendered":"Shaking off the cobwebs"},"content":{"rendered":"

<\/a> The government is going to do a new valuation on Abu Qir Fertilizers as it<\/strong> prepares a <\/strong>new timeline for a secondary offering <\/strong>of the company\u2019s shares, Al Mal<\/a> reports, citing what it says are unnamed sources in the know. A new valuation is necessary after the pandemic and ensuing capital market sell-off. It\u2019s not clear how long the process will take, or when the government committee managing the privatization program expects to kick off the roadshow for the sale. Renaissance Capital\u2019s head of MENA research Ahmed Hafez previously told us<\/a> Abu Qir could be brought to market if there\u2019s a strong rally in commodity prices, and markets are now awash with talk of a commodities supercycle<\/a>.<\/p>\n

Advisors:<\/strong> Renaissance Capital and CI Capital were tapped to lead the transaction. White and Case and Shalakany Law Office are providing counsel.<\/p>\n

Background:<\/strong> The offering, which was supposed to go to market in 2019<\/a>, would have seen the government sell as much as 20% of the company via an accelerated book build on the EGX. The final decision remains unconfirmed. The sale was put on hold at the end of 2019<\/a>, and then again last year<\/a> because of the pandemic. This listing gets an Enterprise Realness Rating of 4.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

The government is going to do a new valuation on Abu Qir Fertilizers as it prepares a new timeline for a secondary offering of the company\u2019s shares, Al Mal reports, citing what it says are unnamed sources in the know. A new valuation is necessary after the pandemic and ensuing capital market sell-off. It\u2019s not […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7321],"tags":[1935,68,557,72,289,585,81],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-560615","post","type-post","status-publish","format-standard","hentry","category-privatization-watch","tag-al-ahly-capital-holding","tag-egx","tag-egyptian-general-petroleum-corporation","tag-enterpriseam","tag-industrial-development-authority","tag-national-investment-bank","tag-privatization-watch","wpautop","entry"],"acf":{"mongo_id":"1654e4fd-450b-4ecd-b4e8-5f63968bf970","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[560610],"teaser":"","voice_url":""},"yoast_head":"\nShaking off the cobwebs - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/07\/shaking-off-the-cobwebs\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Shaking off the cobwebs\" \/>\n<meta property=\"og:description\" content=\"The government is going to do a new valuation on Abu Qir Fertilizers as it prepares a new timeline for a secondary offering of the company\u2019s shares, Al Mal reports, citing what it says are unnamed sources in the know. 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The final decision of the exact\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/2\/259.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":593856,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/13\/egypts-govt-could-sell-stakes-in-abu-qir-acch-in-december-but-doubts-remain\/","url_meta":{"origin":560615,"position":1},"title":"Egypt\u2019s gov\u2019t could sell stakes in Abu Qir, ACCH in December, but doubts remain","author":"enterpriseam admin","date":"13 October 2019","format":false,"excerpt":"Doubts over Abu Qir, ACCH share sales in December: Repeated delays to the state privatization program are causing analysts to doubt whether plans to sell stakes in state-owned Alexandria Container and Cargo Handling (ACCH) and Abu Qir Fertilizers at the end of December are achievable, Patrick Werr writes for Reuters.\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/12\/198.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":599835,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/13\/beltone-eliminated-from-ni-capitals-tender-for-management-of-abu-qir-stake-sale-over-sarwa-flap\/","url_meta":{"origin":560615,"position":2},"title":"Beltone eliminated from NI Capital\u2019s tender for management of Abu Qir stake sale over Sarwa flap","author":"enterpriseam admin","date":"13 January 2019","format":false,"excerpt":"IPO WATCH- Beltone wasn\u2019t invited to bid for a piece of Abu Qir stake sale: State-owned investment bank NI Capital has excluded Beltone Financial from a tender it issued last month that will see it hire a manger for the sale of an additional stake in Abu Qir Fertilizers and\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":553600,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/09\/abu-qir-to-sell-up-to-10-stake-in-secondary-offering\/","url_meta":{"origin":560615,"position":3},"title":"Abu Qir to sell up to 10% stake in secondary offering","author":"enterpriseam admin","date":"9 December 2021","format":false,"excerpt":"Abu Qir Fertilizers will sell up to 10% of its shares in a secondary offering on the EGX, the company announced in a bourse disclosure (pdf) yesterday. The state-owned company didn\u2019t give any indication of when the sale might go ahead, but Emad El Din Mostafa, the head of the\u2026","rel":"","context":"In "Privatization"","block_context":{"text":"Privatization","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/privatization-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/12\/272.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":585929,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/02\/secondary-stake-sales-for-abu-qir-sidpec\/","url_meta":{"origin":560615,"position":4},"title":"Secondary stake sales for Abu Qir, Sidpec?","author":"enterpriseam admin","date":"2 May 2023","format":false,"excerpt":"Both companies have already seen interest from Gulf investors","rel":"","context":"In "Privatization"","block_context":{"text":"Privatization","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/privatization-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/5\/87.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":600712,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/07\/shalakany-zhp-herbert-smith-white-case-to-act-as-advisors-on-abu-qir-acch-stake-sales\/","url_meta":{"origin":560615,"position":5},"title":"Shalakany, ZH&P, Herbert Smith, White & Case to act as advisors on Abu Qir, ACCH stake sales","author":"enterpriseam admin","date":"7 February 2019","format":false,"excerpt":"Shalakany, Herbert Smith, White & Case tapped as local legal counsel on Abu Qir stake sale: Shalakany Law Office, alongside Herbert Smith Freehills, will jointly act as shareholders\u2019 local legal counsel in the stake sale of Abu Qir Fertilizers as part of the government privatization program, a source close to\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/560615","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=560615"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/560615\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/560610"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=560615"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=560615"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=560615"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=560615"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=560615"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}