{"id":597718,"date":"2019-05-02T04:11:11","date_gmt":"2019-05-02T04:11:11","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/02\/tawfik-hhd-to-ipo-in-4q2019-or-seek-help-from-strategic-investors\/"},"modified":"2019-05-02T04:11:11","modified_gmt":"2019-05-02T04:11:11","slug":"tawfik-hhd-to-ipo-in-4q2019-or-seek-help-from-strategic-investors","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/02\/tawfik-hhd-to-ipo-in-4q2019-or-seek-help-from-strategic-investors\/","title":{"rendered":"Tawfik: HHD to IPO in 4Q2019 or seek help from strategic investors"},"content":{"rendered":"

<\/a> IPO WATCH- Stake in Heliopolis Housing could be sold to a strategic investor: <\/b>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<\/a> from the lineup of companies in the first wave of the state privatization program, the local press reported<\/a>. While the sale of an additional stake on the EGX in 4Q2019 is a possibility, so is \u201cdeveloping\u201d HHD in partnership with a strategic investor, Public Enterprises Minister Hisham Tawfik hinted last week on the sidelines of an AmCham event in Cairo.<\/p>\n

What other transactions could go to market soon?<\/b> Abu Qir Fertilizers and Alexandria Containers and Cargo Handling Company could make secondary offerings before the Eid El Fitr break, but the sale program will definitely be on hold during the summer, when liquidity and trading volumes are typically low, Tawfik told Enterprise last week.<\/p>\n

Background: <\/b>The government kicked off the first wave of the program in March<\/a> with Eastern Tobacco\u2019s secondary offering of a 4.5% stake. The first phase of the program was delayed last year as a global emerging markets selloff hit the EGX.<\/p>\n","protected":false},"excerpt":{"rendered":"

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 the state privatization program, the […]<\/p>\n","protected":false},"author":1,"featured_media":597719,"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":[68,72,157,78,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-597718","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-egx","tag-enterpriseam","tag-heliopolis-housing-and-development","tag-ipo-watch","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"e6e1272a-c174-49ab-a630-544ecde34318","is_powered_by":true,"section_story_id":"b6712d1b-02ac-4d8a-a922-9c1c42bbf2fa","story_type":"1","photo_url":"https:\/\/ent.news\/2020\/2\/329.jpg","photo_position":"above","related_issue":[597707],"teaser":"","voice_url":""},"yoast_head":"\nTawfik: 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handing company management to a private partner: State-owned real estate developer Heliopolis Housing has called an extraordinary general assembly meeting on 26 August to vote on handing the company\u2019s management to a private sector partner as part of the share sale process, 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\/2020\/2\/329.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":598955,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/13\/government-approves-handing-heliopolis-housing-management-to-an-investor\/","url_meta":{"origin":597718,"position":1},"title":"Government approves handing Heliopolis Housing management to an investor","author":"enterpriseam admin","date":"13 June 2019","format":false,"excerpt":"M&A WATCH- Gov\u2019t to offer 11% stake in Heliopolis Housing \u2014 with management rights: The Public Enterprises Ministry and the Holding Company for Construction and Development have given principal approval to hand the management of Heliopolis Housing & Development (HHD) to a private investor, Heliopolis Housing said in a bourse\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":597825,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/06\/egypts-state-owned-hhd-sells-1980-feddan-land-in-sheraton-new-cairo\/","url_meta":{"origin":597718,"position":2},"title":"Egypt\u2019s state-owned HHD sells 1980 feddan land in Sheraton, New Cairo","author":"enterpriseam admin","date":"6 May 2019","format":false,"excerpt":"Heliopolis Housing and Development (HHD) sold a 1,980-feddan land plot in Sheraton, Heliopolis, for EGP 99.3 mn at auction on Saturday, the company said in an EGX disclosure (pdf). HHD\u2019s Sahar Al Damati said in March the company is planning to sell off part of its land portfolio in 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\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":601808,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/11\/heliopolis-housing-planning-to-list-32-25-stake-by-mid-2019\/","url_meta":{"origin":597718,"position":3},"title":"Heliopolis Housing planning to list 32.25% stake by mid-2019","author":"enterpriseam admin","date":"11 March 2019","format":false,"excerpt":"IPO WATCH- Heliopolis Housing planning to offer a 32.25% stake on the EGX by mid-2019: Heliopolis Company for Housing and Development (HHD) is planning to offer a 32.25% stake on the EGX by mid-2019, Sahar Al Damati, HDD\u2019s managing director for financial affairs, told Zawya. Public Enterprises Minister Hisham Tawfik\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":593281,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/24\/hhd-approves-draft-contracts-for-10-stake-management-rights\/","url_meta":{"origin":597718,"position":4},"title":"HHD approves draft contracts for 10% stake + management rights","author":"enterpriseam admin","date":"24 November 2019","format":false,"excerpt":"PRIVATIZATION WATCH- HHD approves prospectus, draft contracts for 10% stake + management rights: Heliopolis Housing and Development (HHD) has approved in an extraordinary general assembly yesterday draft contracts for handing management rights to a private sector investor, as well as a prospectus for a 10% stake sale to the same\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":592106,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/26\/hhd-secondary-offering-to-be-completed-before-may-2020\/","url_meta":{"origin":597718,"position":5},"title":"HHD secondary offering to be completed before May 2020","author":"enterpriseam admin","date":"26 December 2019","format":false,"excerpt":"PRIVATIZATION WATCH- HHD secondary offering to be completed before May 2020: Heliopolis Housing & Development (HHD) will take its secondary stake sale to market before May 2020, at which time it will have handed over the 10% stake + management rights of the company to a strategic investor, the local\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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/597718","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=597718"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/597718\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/597707"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/597719"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=597718"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=597718"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=597718"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=597718"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=597718"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}