{"id":561911,"date":"2021-04-26T04:00:19","date_gmt":"2021-04-26T04:00:19","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/26\/evergrow-mulls-offering-40-stake-in-ipo\/"},"modified":"2021-04-26T04:00:19","modified_gmt":"2021-04-26T04:00:19","slug":"evergrow-mulls-offering-40-stake-in-ipo","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/26\/evergrow-mulls-offering-40-stake-in-ipo\/","title":{"rendered":"Evergrow mulls offering 40% stake in IPO"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>Egyptian fertilizer company Evergrow plans to offer a 40% stake in an IPO on<\/strong><strong> the EGX in 2023<\/strong>, Chairman Mohamed El Kheshen told <a href=\"https:\/\/bit.ly\/3vhEael\">Hapi Journal<\/a>. This appears to be a larger offering than the 30% stake Evergrow <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a0a5d217-ac7b-4aa9-b91f-2449f5908510\">said last year<\/a> it planned to sell in a public offering in 2022. The chairman did not specify how much Evergrow is looking to raise from the sale.<\/p>\n<p><strong>EFG Hermes is quarterbacking the transaction<\/strong>, El Kheshen said.<\/p>\n<p><strong>The company is trying to fix its finances:<\/strong> Evergrow is undergoing a three-month restructuring as it looks to solve its financial problems <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=26122020&id=0e6f840b-56a2-4ae9-b8ac-2c1dbdf0e172\">caused by the EGP float<\/a> in 2016. Once complete, Evergrow will become a holding company bringing together its six subsidiaries under its umbrella, and is expected to be valued at EGP 15 bn, El Kheshen said. The restructuring will be backed in part by a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c4797115-2730-42ce-84e5-aab1757d0254\">USD 400 mn facility<\/a> from a group of regional banks, which will be used to restructure existing debts and finance the completion of third phase of its Sadat City complex, which was held back by the devaluation.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Egyptian fertilizer company Evergrow plans to offer a 40% stake in an IPO on the EGX in 2023, Chairman Mohamed El Kheshen told Hapi Journal. This appears to be a larger offering than the 30% stake Evergrow said last year it planned to sell in a public offering in 2022. The chairman did not specify [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":561912,"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":[430,204,576,7106,84,68,72,2224,78,2373,248],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-561911","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-arab-african-international-bank","tag-banking","tag-banque-misr","tag-debt","tag-efg-hermes","tag-egx","tag-enterpriseam","tag-evergrow","tag-ipo-watch","tag-mashreq-bank","tag-national-bank-of-egypt","wpautop","entry"],"acf":{"mongo_id":"c6ac1594-e62f-4ec2-9a06-7df8c1d65b06","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/4\/267.jpg","photo_position":"above","related_issue":[561898],"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>Evergrow mulls offering 40% stake in 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\/04\/26\/evergrow-mulls-offering-40-stake-in-ipo\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Evergrow mulls offering 40% stake in IPO\" \/>\n<meta property=\"og:description\" content=\"Egyptian fertilizer company Evergrow plans to offer a 40% stake in an IPO on the EGX in 2023, Chairman Mohamed El Kheshen told Hapi Journal. This appears to be a larger offering than the 30% stake Evergrow said last year it planned to sell in a public offering in 2022. The chairman did not specify [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/26\/evergrow-mulls-offering-40-stake-in-ipo\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-26T04:00:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/4\/267.jpg?fit=%2C&ssl=1\" \/>\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\/04\/26\/evergrow-mulls-offering-40-stake-in-ipo\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/26\/evergrow-mulls-offering-40-stake-in-ipo\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Evergrow mulls offering 40% stake in IPO\",\"datePublished\":\"2021-04-26T04:00:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/26\/evergrow-mulls-offering-40-stake-in-ipo\/\"},\"wordCount\":177,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/26\/evergrow-mulls-offering-40-stake-in-ipo\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/4\/267.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Arab African International Bank\",\"banking\",\"Banque Misr\",\"debt\",\"EFG Hermes\",\"EGX\",\"EnterpriseAM\",\"Evergrow\",\"IPO watch\",\"Mashreq Bank\",\"National Bank of Egypt\"],\"articleSection\":[\"IPO\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/26\/evergrow-mulls-offering-40-stake-in-ipo\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/26\/evergrow-mulls-offering-40-stake-in-ipo\/\",\"name\":\"Evergrow mulls offering 40% stake in IPO - 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El Kheshen did not specify how much Evergrow is looking to raise from the sale. The company will begin\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":638576,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/09\/evergrow-settles-on-site-for-egp-9-5-bn-plant-in-talks-with-partners-to-set-ownership-stake\/","url_meta":{"origin":561911,"position":1},"title":"Evergrow settles on site for EGP 9.5 bn plant, in talks with partners to set ownership stake","author":"enterpriseam admin","date":"9 October 2017","format":false,"excerpt":"Fertilizer producer Evergrow has settled on East Beni Suef as the site of the EGP 9.5 bn fertilizer plant it announced it was building late last month, said company chairman Mohamed El Kheshen. He tells Al Mal that Evergrow is in talks with a consortium made up of Borealis and\u2026","rel":"","context":"In &quot;Basic Materials + Commodities&quot;","block_context":{"text":"Basic Materials + Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/basic-materials-commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":626419,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/02\/evergrow-to-build-egp-2-bn-fertilizer-plant-at-sadat-city\/","url_meta":{"origin":561911,"position":2},"title":"Evergrow to build EGP 2 bn fertilizer plant at Sadat City","author":"enterpriseam admin","date":"2 July 2018","format":false,"excerpt":"INVESTMENT WATCH- Evergrow scaling back investment in fertilizer plant? It appears that fertilizer maker Evergrow has reduced projected spending on its calcium diphosphate plant, with Evergrow chairman Mohamed El Kheshen stating that the Sadat City plant will cost EGP 2 bn, down sharply from an initial estimate of EGP 9.5\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":600965,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/14\/evergrow-agrees-egp-1-2-bn-loan-with-three-banks\/","url_meta":{"origin":561911,"position":3},"title":"Evergrow agrees EGP 1.2 bn loan with three banks","author":"enterpriseam admin","date":"14 February 2019","format":false,"excerpt":"Evergrow for Speciality Fertilizers has reached an EGP 1.2 bn financing agreement with the National Bank of Egypt, the Arab African International Bank and Abu Dhabi Islamic Bank, Chairman Mohamed Al Kheshen told the domestic press. The financing will be used to fund new investments and covers 60% of the\u2026","rel":"","context":"In &quot;Manufacturing&quot;","block_context":{"text":"Manufacturing","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/manufacturing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":561830,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/22\/evergrow-is-restructuring-its-debts\/","url_meta":{"origin":561911,"position":4},"title":"Evergrow is restructuring its debts","author":"enterpriseam admin","date":"22 April 2021","format":false,"excerpt":"Egyptian fertilizer company Evergrow has signed a USD 400 mn loan agreement with a syndicate of 12 banks led by Mashreq Bank and the National Bank of Egypt (NBE), who acted as the facility arrangers, Hapi Journal reports, citing a company statement. Some USD 326 mn will be used to\u2026","rel":"","context":"In &quot;DEBT WATCH&quot;","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/4\/233.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":591808,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/17\/evergrow-to-receive-usd-150-mn-loan-to-restructure-debts\/","url_meta":{"origin":561911,"position":5},"title":"Evergrow to receive USD 150 mn loan to restructure debts","author":"enterpriseam admin","date":"17 December 2019","format":false,"excerpt":"Egyptian fertilizer manufacturer Evergrow has reached an agreement with four local banks for a USD 150 mn loan to restructure its debts, banking sources told Al Shorouk. The company borrowed USD 200 mn from the National Bank of Egypt (NBE), Banque Misr, and the Arab African International Bank (AAIB) to\u2026","rel":"","context":"In &quot;Banking + Finance&quot;","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"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\/561911","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=561911"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/561911\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/561898"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/561912"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=561911"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=561911"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=561911"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=561911"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=561911"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}