{"id":577806,"date":"2022-12-06T04:01:46","date_gmt":"2022-12-06T04:01:46","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/06\/egx-greenlights-listing-of-state-owned-ports-company-ahead-of-ipo\/"},"modified":"2022-12-06T04:01:46","modified_gmt":"2022-12-06T04:01:46","slug":"egx-greenlights-listing-of-state-owned-ports-company-ahead-of-ipo","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/06\/egx-greenlights-listing-of-state-owned-ports-company-ahead-of-ipo\/","title":{"rendered":"EGX greenlights listing of state-owned ports company ahead of IPO"},"content":{"rendered":"

<\/a> State-owned maritime transport company to list on the EGX on Wednesday: <\/strong>The EGX\u2019s listing committee has signed off on the temporary listing of the state-owned Port Said Container & Cargo Handling Company (PSCCHC<\/a>)<\/a> ahead of a planned IPO, the bourse said in a statement (pdf).<\/a> This gives the company six months to meet listing requirements including minimum quotas for the number of listed shares and shareholders, and obtain regulatory approvals, under recent changes<\/a> to listing procedures.<\/p>\n

The details: <\/strong>The Holding Company for Maritime Transport subsidiary will list over 32.8 mn shares on the bourse, the statement said, without disclosing the exact stake size it plans to offer on the exchange. Local media has reported that the company is looking to sell a 25% stake<\/a> in 1Q 2023. Trading on its shares will eventually take place under the ticker POCO.CA.<\/p>\n

Will<\/strong> Damietta Container & Cargo Handling Company (DCHC)<\/a><\/strong> be next? <\/strong>The EGX approval comes the day after reports that the ordinary general assemblies of PSCCHC and sister company DCHC both approved IPO plans. Both subsidiaries of the Holding Company for Maritime Transport are eyeing 25% stake sales, according to the domestic press. The Madbouly government is reportedly planning to IP<\/a>O<\/a> the two companies in 1Q 2023, along with a Nilex listing for the Egyptian Company For Maritime Transport<\/a> (Martrans) and General Egyptian Warehouse Company<\/a>.<\/p>\n

The EGX is gearing up for at least five listings \u201cin the coming period,\u201d <\/strong>Al Mal<\/a> quotes EGX boss Ramy El Dokany as saying at a conference yesterday. Finance Minister Mohamed Maait also said<\/a> earlier this week that the government could sell stakes in companies in the banking and oil sectors before March 2023.<\/p>\n

In the pipeline: <\/strong>Banque du Caire (BdC) was planning to make its debut this year but decided in July to postpone the sale<\/a> until market conditions improve; It now has until 31 March 2023<\/a> to finish the IPO procedures. The Suez Canal Authority (SCA) had also been planning<\/a> to IPO the Canal Mooring & Lights Company<\/a> on the EGX at the end of the year.<\/p>\n

Market conditions have staged a recovery from an intense sell-off on the back of the crisis in Ukraine<\/strong>, helped by last month\u2019s currency float<\/a> and the announcement of a USD 3 bn IMF bailout package. The sell-offs had led to the postponement of at least two IPOs and forced the government to rethink its privatization plans, which at the beginning of the year envisaged as many as 10 state-owned companies<\/a> selling shares on the bourse.<\/p>\n

The bourse is currently in talks with Arab investors to help attract large firms to the EGX, <\/strong>El Dokany is quoted as saying at yesterday\u2019s conference. The EGX recently kickstarted a series of roadshows across the GCC that has taken it to Oman and the UAE to help drum up investments in our bourse.<\/p>\n","protected":false},"excerpt":{"rendered":"

State-owned maritime transport company to list on the EGX on Wednesday: The EGX\u2019s listing committee has signed off on the temporary listing of the state-owned Port Said Container & Cargo Handling Company (PSCCHC) ahead of a planned IPO, the bourse said in a statement (pdf). This gives the company six months to meet listing requirements […]<\/p>\n","protected":false},"author":1,"featured_media":577807,"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":[68,72,78,6429,2313,2579,207],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-577806","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-egx","tag-enterpriseam","tag-ipo-watch","tag-port-said-container-cargo-handling-company","tag-ramy-el-dokany","tag-state-ipo-program","tag-transport","wpautop","entry"],"acf":{"mongo_id":"14ad93f9-19bc-4988-9cae-969e5d9b6d9f","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/12\/90.jpg","photo_position":"above","related_issue":[577799],"teaser":"","voice_url":""},"yoast_head":"\nEGX greenlights listing of state-owned ports company ahead of 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\/2022\/12\/06\/egx-greenlights-listing-of-state-owned-ports-company-ahead-of-ipo\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EGX greenlights listing of state-owned ports company ahead of IPO\" \/>\n<meta property=\"og:description\" content=\"State-owned maritime transport company to list on the EGX on Wednesday: The EGX\u2019s listing committee has signed off on the temporary listing of the state-owned Port Said Container & Cargo Handling Company (PSCCHC) ahead of a planned IPO, the bourse said in a statement (pdf). This gives the company six months to meet listing requirements […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/06\/egx-greenlights-listing-of-state-owned-ports-company-ahead-of-ipo\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-12-06T04:01:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/90.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=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/06\/egx-greenlights-listing-of-state-owned-ports-company-ahead-of-ipo\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/06\/egx-greenlights-listing-of-state-owned-ports-company-ahead-of-ipo\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"EGX greenlights listing of state-owned ports company ahead of IPO\",\"datePublished\":\"2022-12-06T04:01:46+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/06\/egx-greenlights-listing-of-state-owned-ports-company-ahead-of-ipo\/\"},\"wordCount\":473,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/06\/egx-greenlights-listing-of-state-owned-ports-company-ahead-of-ipo\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/90.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EGX\",\"EnterpriseAM\",\"IPO watch\",\"Port Said Container & Cargo Handling Company\",\"Ramy El Dokany\",\"state IPO program\",\"transport\"],\"articleSection\":[\"IPO\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/06\/egx-greenlights-listing-of-state-owned-ports-company-ahead-of-ipo\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/06\/egx-greenlights-listing-of-state-owned-ports-company-ahead-of-ipo\/\",\"name\":\"EGX greenlights listing of state-owned ports company ahead of IPO - 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These listings,\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":578104,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/15\/damietta-container-cargo-handling-lists-on-egx-ahead-of-planned-ipo\/","url_meta":{"origin":577806,"position":2},"title":"Damietta Container & Cargo Handling lists on EGX ahead of planned IPO","author":"enterpriseam admin","date":"15 December 2022","format":false,"excerpt":"The EGX has approved the temporary listing of the Damietta Container & Cargo Handling Company\u2019s (DCHC) shares ahead of a potential IPO next year, Al Mal reported yesterday. The shares will be listed for six months while the company works to meet the requirements to IPO on the exchange and\u2026","rel":"","context":"In "IPO"","block_context":{"text":"IPO","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/324.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":631547,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/21\/government-to-sell-stakes-in-4-6-companies-on-the-egx-in-2018\/","url_meta":{"origin":577806,"position":3},"title":"Government to sell stakes in 4-6 companies on the EGX in 2018","author":"enterpriseam admin","date":"21 March 2018","format":false,"excerpt":"IPO WATCH- The government plans to offer shares of 4-6 companies on the EGX in 2018 under its IPO program, including a chunk of Bank of Alexandria and 24% of oil services outfit Enppi, Finance Minister Amr El Garhy tells Al Mal. 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