{"id":597297,"date":"2019-07-22T03:44:00","date_gmt":"2019-07-22T03:44:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/22\/egyptian-e-payments-platform-fawry-to-offer-36-of-its-shares-in-ipo\/"},"modified":"2019-07-22T03:44:00","modified_gmt":"2019-07-22T03:44:00","slug":"egyptian-e-payments-platform-fawry-to-offer-36-of-its-shares-in-ipo","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/22\/egyptian-e-payments-platform-fawry-to-offer-36-of-its-shares-in-ipo\/","title":{"rendered":"Egyptian e-payments platform Fawry to offer 36% of its shares in IPO"},"content":{"rendered":"

<\/a> IPO WATCH- Fawry to offer 36% of its shares in an IPO: <\/b>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)<\/a>. Fawry received the registration approval from the Financial Regulatory Authority (FRA) in order to proceed with the listing and the share sale, the statement said. The shares will reportedly debut at par value of EGP 6.5, which is a discount from its fair value of EGP 6.9, based on the fair valuation of the e-payments platform at EGP 4.6 bn (c. USD 275 mn), according to local press sources<\/a>.<\/p>\n

The company will sell 21% to institutions in a pre-agreed transaction, 10% in a private placement to institutional investors, and 5% to retail investors<\/b>, Chief Financial Officer Abdel Meguid Afifi told Enterprise. State-owned Banque Misr and NBE, and emerging markets private equity giant Actis are reportedly the institutions purchasing 21% of the shares in the pre-agreed transaction, with each holding 7%, anonymous sources told the press<\/a>. The institutions were hand-picked as \u201cquality investors\u201d to help develop Fawry in the long run and not merely to acquire proceeds, the sources added.<\/p>\n

As for the remainder of the institutional offering: <\/b>A roadshow for local asset managers kicked off yesterday, with international roadshows to follow later in the week, we noted on Wednesday<\/a>. UAE-based investors will be the first overseas targets in a roadshow set to kick off tomorrow, the sources told the newspaper.<\/p>\n

The private placement could take place as early as next week<\/b>, with the dates tentatively set at 27 to 31 July, while the retail offering is planned between 1-5 August, sources told the local press<\/a>. Trading should begin on 8 August.<\/b><\/p>\n

Advisers: <\/b>EFG Hermes is the global coordinator and bookrunner for the share sale. Zulficar & Partners is serving as the local counsel, and Zaki Hashem & Partners is serving as local counsel to the issuer.<\/p>\n","protected":false},"excerpt":{"rendered":"

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 the registration approval from the […]<\/p>\n","protected":false},"author":1,"featured_media":597298,"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":[72,519,183,125,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-597297","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-enterpriseam","tag-fawry","tag-fintech","tag-investment-watch","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"f5664908-70db-40db-b7d0-8470eae9dd7b","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2019\/7\/Fawry-1600px.jpg","photo_position":"above","related_issue":[597292],"teaser":"","voice_url":""},"yoast_head":"\nEgyptian e-payments platform Fawry to offer 36% of its shares 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\/2019\/07\/22\/egyptian-e-payments-platform-fawry-to-offer-36-of-its-shares-in-ipo\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egyptian e-payments platform Fawry to offer 36% of its shares in IPO\" \/>\n<meta property=\"og:description\" content=\"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). 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The private placement constitutes 10% of the offering, which will see Fawry sell 36% 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\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":596864,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/10\/fawry-egypts-largest-ipo-since-emaar-on-the-horizon\/","url_meta":{"origin":597297,"position":4},"title":"Fawry, Egypt\u2019s largest IPO (since Emaar) on the horizon?","author":"enterpriseam admin","date":"10 July 2019","format":false,"excerpt":"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\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":597297,"position":5},"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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/597297","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=597297"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/597297\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/597292"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/597298"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=597297"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=597297"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=597297"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=597297"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=597297"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}