{"id":561149,"date":"2021-03-28T03:54:41","date_gmt":"2021-03-28T03:54:41","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/28\/taaleem-appears-to-bump-up-guidance-on-price-range-for-ipo\/"},"modified":"2021-03-28T03:54:41","modified_gmt":"2021-03-28T03:54:41","slug":"taaleem-appears-to-bump-up-guidance-on-price-range-for-ipo","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/28\/taaleem-appears-to-bump-up-guidance-on-price-range-for-ipo\/","title":{"rendered":"Taaleem appears to bump up guidance on price range for IPO"},"content":{"rendered":"<p><a id=\"tldr-story-04\" class=\"content-anchor\"><\/a> <strong>Taaleem Management Services will sell its shares at up to EGP 6.20 apiece <\/strong><strong>in <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d960b7cc-4f8e-4111-8b2f-5bac2c4374a6\">an initial public offering<\/a><\/strong><strong> on the EGX <\/strong>after receiving Financial Regulatory Authority <a href=\"https:\/\/ent.news\/2021\/3\/FRA-approval-for-Taaleem.pdf\">approval (pdf)<\/a> on Thursday, the company said in a statement to the <a href=\"https:\/\/ent.news\/2021\/3\/Taaleem-offering-pdf.pdf\">EGX (pdf)<\/a>. The company will offer up to 49% of its shares \u2014 equivalent to some 357.8 mn shares \u2014 which would give it a market cap of c. EGP 4.4 bn, or a bit more than half the size of CIRA, which currently has a market cap of c. EGP 7.5 bn, according to market data.<\/p>\n<p><strong>The company's bankers had <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b0779d2d-50f1-4135-92fe-1ad2021a29b1\">previously said<\/a> they would price the transaction in the EGP 5.48-6.02 per share range.<\/strong><\/p>\n<p><strong>The company is looking to place the majority of its shares with institutions<\/strong>, who will get about 46.6 ppt of the 49% of the company on offer, while c. 2.4 ppt of the offering will be placed with retail investors.<\/p>\n<p><strong>Taaleem looks like it could pull the trigger by Wednesday<\/strong>, with <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b0779d2d-50f1-4135-92fe-1ad2021a29b1\">shareholder<\/a> and sale manager CI Capital saying in the disclosure that it has an agreement with an unnamed investor for the purchase of USD 30 mn-worth of shares if the IPO goes through before 31 March. That\u2019s about a fifth of the shares on offer through private placement, by our math.<\/p>\n<p><strong>Advisors<\/strong>: CI Capital is the bookrunner. MHR & Partners in association with White & Case are the counsel for CI Capital, while Matouk Bassiouny & Hennawy are domestic counsel to Taaleem. PwC acts as an auditor for the transaction, and BDO is the independent financial advisor.<\/p>\n<p><strong><em>CORRECTION:\u00a0<\/em><\/strong><em>A previous version of this story in EnterpriseAM said that Taalem would price its IPO at EGP 6.20 per share. The statement from FRA instead says that the IPO will be priced at\u00a0<strong>up to\u00a0<\/strong>EGP 6.20.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Taaleem Management Services will sell its shares at up to EGP 6.20 apiece in an initial public offering on the EGX after receiving Financial Regulatory Authority approval (pdf) on Thursday, the company said in a statement to the EGX (pdf). The company will offer up to 49% of its shares \u2014 equivalent to some 357.8 [&hellip;]<\/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":[7224],"tags":[3277,136,72,78,883,826,408],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-561149","post","type-post","status-publish","format-standard","hentry","category-ipo-watch","tag-bdo","tag-ci-capital","tag-enterpriseam","tag-ipo-watch","tag-matouk-bassiouny-hennawy","tag-pwc","tag-taaleem","wpautop","entry"],"acf":{"mongo_id":"f9e4ccc0-a0f4-45cd-af78-7d2fd4e13c2c","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[561140],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Taaleem appears to bump up guidance on price range for IPO - 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\/28\/taaleem-appears-to-bump-up-guidance-on-price-range-for-ipo\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Taaleem appears to bump up guidance on price range for IPO\" \/>\n<meta property=\"og:description\" content=\"Taaleem Management Services will sell its shares at up to EGP 6.20 apiece in an initial public offering on the EGX after receiving Financial Regulatory Authority approval (pdf) on Thursday, the company said in a statement to the EGX (pdf). The company will offer up to 49% of its shares \u2014 equivalent to some 357.8 [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/28\/taaleem-appears-to-bump-up-guidance-on-price-range-for-ipo\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-28T03:54:41+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/28\/taaleem-appears-to-bump-up-guidance-on-price-range-for-ipo\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/28\/taaleem-appears-to-bump-up-guidance-on-price-range-for-ipo\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Taaleem appears to bump up guidance on price range for IPO\",\"datePublished\":\"2021-03-28T03:54:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/28\/taaleem-appears-to-bump-up-guidance-on-price-range-for-ipo\/\"},\"wordCount\":295,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"BDO\",\"CI Capital\",\"EnterpriseAM\",\"IPO watch\",\"Matouk Bassiouny &amp; 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The transaction will see about 49% of the company (or some 358 mn shares). The price would give the education outfit \u2014 which would be the\u2026","rel":"","context":"In &quot;SPEED ROUND: IPO WATCH&quot;","block_context":{"text":"SPEED ROUND: IPO WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":565414,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/07\/taaleem-shares-pop-6-in-egx-debut\/","url_meta":{"origin":561149,"position":1},"title":"Taaleem shares pop 6% in EGX debut","author":"enterpriseam admin","date":"7 April 2021","format":false,"excerpt":"Higher education outfit Taaleem saw its shares rise a bit over 6% in their first day of trading, closing at EGP 6.10 after opening at EGP 5.75. The company\u2019s sale of 49% of its shares in its EGX debut \u2014 under the ticker TALM \u2014 marks the first real IPO\u2026","rel":"","context":"In &quot;SPEED ROUND: IPO WATCH&quot;","block_context":{"text":"SPEED ROUND: IPO WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/4\/362.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":561215,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/30\/taaleem-prices-ipo-amid-strong-institutional-investor-appetite\/","url_meta":{"origin":561149,"position":2},"title":"Taaleem prices IPO amid strong institutional investor appetite","author":"enterpriseam admin","date":"30 March 2021","format":false,"excerpt":"CI Capital has priced the IPO of multi-brand higher education player Taaleem Management Services at EGP 5.75 per share, roughly the midpoint of the EGP 5.48-6.02 range announced in the prospectus last week amid strong investor demand. The offering to institutional shareholders was 2.34x oversubscribed, and pricing values the offering\u2026","rel":"","context":"In &quot;IPO&quot;","block_context":{"text":"IPO","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/3\/351.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":564533,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/11\/taaleem-to-offer-49-of-its-shares-in-egx-debut\/","url_meta":{"origin":561149,"position":3},"title":"Taaleem to offer 49% of its shares in EGX debut","author":"enterpriseam admin","date":"11 February 2021","format":false,"excerpt":"Taaleem Management Services is about to break our IPO drought after it announced overnight its intention to make an initial public offering of its shares on the EGX some time in 1Q2021. How big is the transaction? Some 49% of Taaleem will be up for grabs as Sphinx Obelisk, a\u2026","rel":"","context":"In &quot;SPEED ROUND: IPO WATCH&quot;","block_context":{"text":"SPEED ROUND: IPO WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/2\/439.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":565224,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/28\/retail-subscription-opens-on-the-taaleem-ipo\/","url_meta":{"origin":561149,"position":4},"title":"Retail subscription opens on the Taaleem IPO","author":"enterpriseam admin","date":"28 March 2021","format":false,"excerpt":"Retail investors who want shares of Taleem\u2019s IPO on the Egyptian Exchange are now placing their orders. Would-be shareholders have until Thursday to get their requests in, the company said. Taaleem is offering 17.9 mn shares in the retail portion of its IPO, which represents 5% of the shares up\u2026","rel":"","context":"In &quot;SPEED ROUND: IPO WATCH&quot;","block_context":{"text":"SPEED ROUND: IPO WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/3\/564.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":646922,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/03\/palm-hills-to-snap-up-mansours-29-6-stake-in-taaleem\/","url_meta":{"origin":561149,"position":5},"title":"Palm Hills to snap up Mansour\u2019s 29.6% stake in Taaleem","author":"enterpriseam admin","date":"3 October 2024","format":false,"excerpt":"PHD will buy Mansour\u2019s 216.1 mn shares at EGP 8.65 a share in an EGP 1.9 bn transaction","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/10\/265.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/561149","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=561149"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/561149\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/561140"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=561149"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=561149"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=561149"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=561149"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=561149"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}