{"id":602926,"date":"2019-04-10T04:14:38","date_gmt":"2019-04-10T04:14:38","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/10\/abu-kir-is-next-up-in-egypts-privatization-program\/"},"modified":"2019-04-10T04:14:38","modified_gmt":"2019-04-10T04:14:38","slug":"abu-kir-is-next-up-in-egypts-privatization-program","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/10\/abu-kir-is-next-up-in-egypts-privatization-program\/","title":{"rendered":"Abu Kir is next up in Egypt\u2019s privatization program"},"content":{"rendered":"

<\/a> Abu Kir is next up in the privatization program: <\/b>Abu Kir Fertilizers is next up in the state privatization program as the government prepares to sell a 20% stake on the EGX, sources close to the matter told the local press<\/a>. The sale\u2019s lead managers, private sector investment banks CI Capital and Renaissance Capital are currently working with the government to finalize the book building process. It was previously believed<\/a>that the second company to take part in the program would be Alexandria Containers & Cargo Handling (ACCH), which plans to sell a 30% stake. The government is expected to raise up to EGP 8 bn in sale proceeds from the ACCH and Abu Kir offerings.<\/p>\n

Background: <\/b>The government successfully kicked off the program last month with Eastern Tobacco\u2019s secondary offering<\/a> of a 4.5% stake. Eastern, Abu Kir, and ACCH, along with Heliopolis Housing, are part of the first wave of companies piloting the program \u2014 which will only see share sales and not IPOs. Alexandria Mineral Oils Company (AMOC) was also part of the wave, but it got sidelined earlier this year<\/a> for falling profitability. Public Enterprises Minister Hisham Tawfiq previously said all offerings in the first wave will wrap up before the Eid El Fitr break.<\/p>\n","protected":false},"excerpt":{"rendered":"

Abu Kir is next up in the privatization program: Abu Kir Fertilizers is next up in the state privatization program as the government prepares to sell a 20% stake on the EGX, sources close to the matter told the local press. The sale\u2019s lead managers, private sector investment banks CI Capital and Renaissance Capital are […]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[11274,68,72,2380,587],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-602926","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-abu-kir-fertilizers","tag-egx","tag-enterpriseam","tag-speed-round","tag-state-privatization-program","wpautop","entry"],"acf":{"mongo_id":"2395c337-a978-48db-b38e-f12644c8dbfa","is_powered_by":true,"section_story_id":"88d53ca8-d160-40c9-a959-4b31191bdfb8","story_type":"1","photo_url":"","photo_position":"above","related_issue":[602917],"teaser":"","voice_url":""},"yoast_head":"\nAbu Kir is next up in Egypt\u2019s privatization program - 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\/04\/10\/abu-kir-is-next-up-in-egypts-privatization-program\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Abu Kir is next up in Egypt\u2019s privatization program\" \/>\n<meta property=\"og:description\" content=\"Abu Kir is next up in the privatization program: Abu Kir Fertilizers is next up in the state privatization program as the government prepares to sell a 20% stake on the EGX, sources close to the matter told the local press. 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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":599934,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/15\/efg-hermes-citi-consortium-snags-advisory-role-in-acch-share-sale\/","url_meta":{"origin":602926,"position":3},"title":"EFG Hermes-Citi consortium snags advisory role in ACCH share sale","author":"enterpriseam admin","date":"15 January 2019","format":false,"excerpt":"EFG Hermes-Citi consortium to run ACCH stake sale: A consortium formed by EFG Hermes and Citi has reportedly won the mandate to run the sale of an additional stake of Alexandria Container and Cargo Handling as part of the state privatization program, a government official told Reuters. The winning consortium,\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\/1\/2134.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":593856,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/13\/egypts-govt-could-sell-stakes-in-abu-qir-acch-in-december-but-doubts-remain\/","url_meta":{"origin":602926,"position":4},"title":"Egypt\u2019s gov\u2019t could sell stakes in Abu Qir, ACCH in December, but doubts remain","author":"enterpriseam admin","date":"13 October 2019","format":false,"excerpt":"Doubts over Abu Qir, ACCH share sales in December: Repeated delays to the state privatization program are causing analysts to doubt whether plans to sell stakes in state-owned Alexandria Container and Cargo Handling (ACCH) and Abu Qir Fertilizers at the end of December are achievable, Patrick Werr writes for Reuters.\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\/12\/198.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":593704,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/08\/govt-to-offer-stakes-in-acch-and-abu-qir-in-4q2019-tawfik\/","url_meta":{"origin":602926,"position":5},"title":"Gov\u2019t to offer stakes in ACCH and Abu Qir in 4Q2019 -Tawfik","author":"enterpriseam admin","date":"8 October 2019","format":false,"excerpt":"IPO WATCH- Gov\u2019t to offer ACCH, Abu Qir stakes before end of 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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/602926","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=602926"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/602926\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/602917"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=602926"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=602926"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=602926"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=602926"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=602926"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}