{"id":596864,"date":"2019-07-10T04:18:29","date_gmt":"2019-07-10T04:18:29","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/10\/fawry-egypts-largest-ipo-since-emaar-on-the-horizon\/"},"modified":"2019-07-10T04:18:29","modified_gmt":"2019-07-10T04:18:29","slug":"fawry-egypts-largest-ipo-since-emaar-on-the-horizon","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/10\/fawry-egypts-largest-ipo-since-emaar-on-the-horizon\/","title":{"rendered":"Fawry, Egypt\u2019s largest IPO (since Emaar) on the horizon?"},"content":{"rendered":"

<\/a> IPO WATCH- Fawry to pull the trigger on Egypt\u2019s largest IPO (since Emaar) before Eid?<\/b> E-payment platform Fawry will reportedly offer 45% of its shares in an initial public offering (IPO) on the EGX before Eid Al Adha in August, sources close to the matter told the domestic press<\/a>. The company is eyeing proceeds between EGP 2 and 2.5 bn, which would make the offering the largest Egypt has seen since Emaar Misr raised EGP 2.28 bn in 2015<\/a>. It would also value Fawry at EGP 4.5-5.5 bn. The offering will consist of a substantial international component, with the roadshow is set to cover the GCC, European, US, and South African markets.<\/p>\n

The IPO appears to be moving forward, fast: <\/b>Financial advisor FinCorp, which Fawry hired to conduct a fair value study, is due to submit its report to the Financial Regulatory Authority within two weeks, after which the bookbuilding process will begin, the sources added. Fawry Managing Director Mohamed Okasha recently said<\/a> the company is mulling a listing sometime in 2019 or 2020 to finance its expansion plans, but had not indicated the IPO plans would move ahead anytime soon. Fawry\u2019s expansion plans include increasing its points of sale, buying new payment machines, and developing Fawry Pay. Fawry also signed an agreement with Dubai Islamic Bank last month<\/a> to launch a trial run of its services in the UAE this summer.<\/p>\n

The major shareholders: <\/b>Back in 2015, a consortium comprising Helios Investment Partners, the Egyptian-American Enterprise Fund, EFG Hermes\u2019 MENA Long-Term Value Fund, and the International Finance Corporation acquired a majority stake in Fawry worth USD 100 mn. The sources who spoke to the press yesterday said the IPO could see partial and full exits of 10 major shareholders, among them international financiers.<\/p>\n

Advisers:<\/b> Fawry tapped EFG Hermes to lead the transaction, and Zulficar & Partners is said to be on board as legal counsel.<\/p>\n","protected":false},"excerpt":{"rendered":"

IPO WATCH- Fawry to pull the trigger on Egypt\u2019s largest IPO (since Emaar) before Eid? E-payment platform Fawry will reportedly offer 45% of its shares in an initial public offering (IPO) on the EGX before Eid Al Adha in August, sources close to the matter told the domestic press. The company is eyeing proceeds between […]<\/p>\n","protected":false},"author":1,"featured_media":596865,"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":[72,519,7087,183,78,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-596864","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-enterpriseam","tag-fawry","tag-finance","tag-fintech","tag-ipo-watch","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"5a0359c3-b672-420a-883b-3f929614fc31","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2019\/7\/Fawry-1600px.jpg","photo_position":"above","related_issue":[596859],"teaser":"","voice_url":""},"yoast_head":"\nFawry, Egypt\u2019s largest IPO (since Emaar) on the horizon? - 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\/07\/10\/fawry-egypts-largest-ipo-since-emaar-on-the-horizon\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fawry, Egypt\u2019s largest IPO (since Emaar) on the horizon?\" \/>\n<meta property=\"og:description\" content=\"IPO WATCH- Fawry to pull the trigger on Egypt\u2019s largest IPO (since Emaar) before Eid? 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A roadshow for UAE and London-based investors is set to begin later in the week.\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":596917,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/11\/fawry-ipo-preparations-are-underway-but-date-size-has-yet-to-be-set\/","url_meta":{"origin":596864,"position":1},"title":"Fawry IPO preparations are underway, but date, size has yet to be set","author":"enterpriseam admin","date":"11 July 2019","format":false,"excerpt":"IPO WATCH- Fawry IPO preparations are underway, but no confirmation on date, size: Preparations for an initial public offering by e-payments platform Fawry are underway as shareholders are leaning towards a listing on the EGX, Fawry Managing Director Mohamed Okasha tells Arabic Reuters. That said, the size of the IPO\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":601648,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/06\/fawry-considering-ipo-by-next-year-plans-expansions\/","url_meta":{"origin":596864,"position":2},"title":"Fawry considering IPO by next year, plans expansions","author":"enterpriseam admin","date":"6 March 2019","format":false,"excerpt":"IPO WATCH- Fawry considering IPO by next year, plans expansions: E-payments platform Fawry is considering listing on the EGX sometime in 2019 or 2020 to finance its expansions, Managing Director Mohamed Okasha told Al Mal. The company hasn\u2019t begun the IPO procedures yet but plans to hire a local investment\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":597445,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/28\/fawry-sets-ipo-price-as-subscription-gets-underway\/","url_meta":{"origin":596864,"position":3},"title":"Fawry sets IPO price as subscription gets underway","author":"enterpriseam admin","date":"28 July 2019","format":false,"excerpt":"IPO WATCH- Fawry sets IPO price at EGP 6.46 \/ share as private placement gets underway: Egyptian e-payments giant Fawry has set its share price for the upcoming IPO at EGP 6.46\/share for its private placement and retail offering, a discount from its EGP 6.9 fair value price, the company\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\/7\/Fawry-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":595775,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/06\/fawry-ipos-retail-offering-30x-oversubscribed\/","url_meta":{"origin":596864,"position":4},"title":"Fawry IPO\u2019s retail offering 30x oversubscribed","author":"enterpriseam admin","date":"6 August 2019","format":false,"excerpt":"IPO WATCH- Fawry\u2019s retail offering oversubscribed 30x: E-payments platform Fawry successfully completed the book-building process for its initial public offering, with the retail offering closing yesterday around 30x oversubscribed, the local press reported. The retail tranche covered 5% of the company\u2019s shares. The company also sold 21.2% to strategic investors\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\/8\/EGX-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":597297,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/22\/egyptian-e-payments-platform-fawry-to-offer-36-of-its-shares-in-ipo\/","url_meta":{"origin":596864,"position":5},"title":"Egyptian e-payments platform Fawry to offer 36% of its shares in IPO","author":"enterpriseam admin","date":"22 July 2019","format":false,"excerpt":"IPO WATCH- Fawry to offer 36% of its shares in an IPO: E-payments platform Fawry is planning to offer up to 36% (or 254.6 mn) of the company\u2019s shares owned by PSI Netherland Holding B.V in an IPO on the EGX, the company said in a statement (pdf). Fawry received\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\/7\/Fawry-1600px.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\/596864","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=596864"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/596864\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/596859"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/596865"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=596864"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=596864"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=596864"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=596864"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=596864"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}