{"id":595267,"date":"2019-09-22T04:20:36","date_gmt":"2019-09-22T04:20:36","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/22\/egypt-could-move-ahead-with-stake-sales-in-less-than-two-weeks\/"},"modified":"2019-09-22T04:20:36","modified_gmt":"2019-09-22T04:20:36","slug":"egypt-could-move-ahead-with-stake-sales-in-less-than-two-weeks","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/22\/egypt-could-move-ahead-with-stake-sales-in-less-than-two-weeks\/","title":{"rendered":"Egypt could move ahead with stake sales in less than two weeks"},"content":{"rendered":"

<\/a> EXCLUSIVE- Gov\u2019t could move ahead with stake sales within two weeks: <\/b>Abu Qir Fertilizers or Alexandria Container and Cargo Handling (ACCH) could offer stakes as part of the privatization program within two weeks\u2019 time, Public Enterprises Minister Hisham Tawfik told Enterprise. The companies have completed all the necessary procedures and are ready to go to market next week or the week after, depending on market conditions. Tawfik pointed to the EGX gaining 20% as an indication that \u201cthe time is appropriate.\u201d Tawfik also confirmed his remarks last month<\/a> in which he noted that IPOs under the wider privatization program have been pushed to after January 2020.<\/p>\n

How much are we looking at? <\/b>The order and size of the stake sales is yet to be determined by the investment banks quarterbacking the sales, but the market expects that both Abu Qir<\/a> and ACCH<\/a> could sell stakes as large as 20%.<\/p>\n

Heliopolis Housing and Development\u2019s (HHD) secondary offering will not take place before the end of the year<\/b> pending the wrap-up of a handful of procedures, the minister added. HHD was originally planned to offer a 32.25% stake<\/a>, but the company was said to have been pulled from the lineup altogether in April<\/a>. Shortly after, it emerged<\/a> that a plan to offer a 25% stake in 4Q2019 was still in the works, with as much as 10 percentage points of the offering to be earmarked for a private equity investor or a partnership between a private equity investor and a property developer.<\/p>\n

Enter SODIC, eyeing the 10% stake: <\/b>Our friend SODIC CEO Magued Sherif told Reuters<\/a> on Thursday that the premier real estate developer is among the investors eyeing the 10% stake. \u201cIn principle we are interested in the matter, but the offer terms are not clear,\u201d he said. \u201cWe will see whether the offering conditions are right for us.\u201d HHD is currently working on preparing a booklet of conditions for investors and real estate developers, Tawfik told Masrawy<\/a>. Shareholders approved<\/a> handing the company\u2019s management to a private sector partner<\/a> as part of the share sale process at an extraordinary general assembly meeting in August. The company\u2019s managing director, Sahar El Damaty, also said last month<\/a> that NI Capital would issue a tender in September to select the bookrunner for the offering.<\/p>\n","protected":false},"excerpt":{"rendered":"

EXCLUSIVE- Gov\u2019t could move ahead with stake sales within two weeks: Abu Qir Fertilizers or Alexandria Container and Cargo Handling (ACCH) could offer stakes as part of the privatization program within two weeks\u2019 time, Public Enterprises Minister Hisham Tawfik told Enterprise. The companies have completed all the necessary procedures and are ready to go to […]<\/p>\n","protected":false},"author":1,"featured_media":595268,"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":[8572],"tags":[548,2453,68,72,157,125,78,145,131,83,312,2380,587],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-595267","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-abu-qir-fertilizers","tag-alexandria-container-and-cargo-handling","tag-egx","tag-enterpriseam","tag-heliopolis-housing-and-development","tag-investment-watch","tag-ipo-watch","tag-logistics","tag-manufacturing","tag-real-estate","tag-sodic","tag-speed-round","tag-state-privatization-program","wpautop","entry"],"acf":{"mongo_id":"3aa76d88-972f-4d51-b9ed-b017388c7d0c","is_powered_by":true,"section_story_id":"49df45a9-b39c-40ac-b576-d5761fb210e8","story_type":"1","photo_url":"https:\/\/ent.news\/2020\/2\/259.jpg","photo_position":"above","related_issue":[595260],"teaser":"","voice_url":""},"yoast_head":"\nEgypt could move ahead with stake sales in less than two weeks - 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\/2019\/09\/22\/egypt-could-move-ahead-with-stake-sales-in-less-than-two-weeks\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt could move ahead with stake sales in less than two weeks\" \/>\n<meta property=\"og:description\" content=\"EXCLUSIVE- Gov\u2019t could move ahead with stake sales within two weeks: Abu Qir Fertilizers or Alexandria Container and Cargo Handling (ACCH) could offer stakes as part of the privatization program within two weeks\u2019 time, Public Enterprises Minister Hisham Tawfik told Enterprise. The companies have completed all the necessary procedures and are ready to go to […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/09\/22\/egypt-could-move-ahead-with-stake-sales-in-less-than-two-weeks\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-09-22T04:20:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2020\/2\/259.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\/2019\/09\/22\/egypt-could-move-ahead-with-stake-sales-in-less-than-two-weeks\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/09\/22\/egypt-could-move-ahead-with-stake-sales-in-less-than-two-weeks\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egypt could move ahead with stake sales in less than two weeks\",\"datePublished\":\"2019-09-22T04:20:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/09\/22\/egypt-could-move-ahead-with-stake-sales-in-less-than-two-weeks\/\"},\"wordCount\":388,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/09\/22\/egypt-could-move-ahead-with-stake-sales-in-less-than-two-weeks\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2020\/2\/259.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Abu Qir Fertilizers\",\"Alexandria Container and Cargo Handling\",\"EGX\",\"EnterpriseAM\",\"Heliopolis Housing and Development\",\"investment watch\",\"IPO watch\",\"logistics\",\"Manufacturing\",\"real estate\",\"SODIC\",\"SPEED ROUND\",\"state privatization program\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/09\/22\/egypt-could-move-ahead-with-stake-sales-in-less-than-two-weeks\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/09\/22\/egypt-could-move-ahead-with-stake-sales-in-less-than-two-weeks\/\",\"name\":\"Egypt could move ahead with stake sales in less than two weeks - 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the year -Tawfik: The government will offer stakes in Alexandria Container and Cargo Handling (ACCH) and Abu Qir Fertilizers in 4Q2019 after the State Council has completed its review and granted it the necessary approvals, Public Enterprises Minister\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":598874,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/11\/demand-is-high-for-further-secondary-offerings-tawfik\/","url_meta":{"origin":595267,"position":1},"title":"Demand is high for further secondary offerings -Tawfik","author":"enterpriseam admin","date":"11 June 2019","format":false,"excerpt":"Demand is high for further secondary offerings -Tawfik: There is high demand for the next two secondary offerings scheduled take place in the first wave of the state privatization program, Public Enterprise Minister Hisham Tawfik told Al Mal during a forum at the Egyptian Center For Economic Studies, without naming\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":603450,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/23\/heliopolis-housing-out-of-first-wave-of-stake-sales-no-stake-sales-during-summer\/","url_meta":{"origin":595267,"position":2},"title":"Heliopolis Housing out of first wave of stake sales; no stake sales during summer","author":"enterpriseam admin","date":"23 April 2019","format":false,"excerpt":"EXCLUSIVE- Heliopolis Housing dropped from first wave of state privatization program: Heliopolis Company for Housing and Development has been dropped from the lineup of companies included in the first wave of the state privatization program, Public Enterprises Minister Hisham Tawfik tells Enterprise. This leaves Abu Qir Fertilizers and Alexandria Containers\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\/2019\/4\/Egypt-state-privatization-program-IPOs.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":596915,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/11\/no-stake-sales-in-state-companies-happening-before-september\/","url_meta":{"origin":595267,"position":3},"title":"No stake sales in state companies happening before September","author":"enterpriseam admin","date":"11 July 2019","format":false,"excerpt":"EXCLUSIVE- No stake sales in state companies happening before September: The sale of additional stakes in already listed state companies will not take place before September, Public Enterprises Minister Hisham Tawfik tells Enterprise. The sale of an additional stake in Alexandria Containers and Cargo Handling Company (ACCH), Abu Qir Fertilizers,\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\/2019\/4\/Egypt-state-privatization-program-IPOs.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":597718,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/02\/tawfik-hhd-to-ipo-in-4q2019-or-seek-help-from-strategic-investors\/","url_meta":{"origin":595267,"position":4},"title":"Tawfik: HHD to IPO in 4Q2019 or seek help from strategic investors","author":"enterpriseam admin","date":"2 May 2019","format":false,"excerpt":"IPO WATCH- Stake in Heliopolis Housing could be sold to a strategic investor: The Public Enterprises Ministry is working with the government\u2019s IPO committee to decide the fate of Heliopolis Company for Housing and Development (HHD) after it was dropped from the lineup of companies in the first wave of\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\/329.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":593413,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/27\/heliopolis-housing-to-sell-22-25-stake-in-1q2020-tawfik-says\/","url_meta":{"origin":595267,"position":5},"title":"Heliopolis Housing to sell 22-25% stake in 1Q2020, Tawfik says","author":"enterpriseam admin","date":"27 November 2019","format":false,"excerpt":"PRIVATIZATION WATCH- HHD to sell 22-25% stake in 1Q2020, Tawfik says: State-owned Heliopolis Housing and Development (HHD) will offer a 22-25% stake in a secondary offering scheduled to go to market in 1Q2020, Public Enterprises Minister Hisham Tawfik said, according to Reuters. This means that 12-15% of the company will\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\/1\/687.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\/595267","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=595267"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/595267\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/595260"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/595268"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=595267"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=595267"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=595267"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=595267"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=595267"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}