{"id":603407,"date":"2019-04-22T04:00:15","date_gmt":"2019-04-22T04:00:15","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/22\/state-owned-e-finance-is-part-of-second-wave-of-egypts-privatization-program\/"},"modified":"2019-04-22T04:00:15","modified_gmt":"2019-04-22T04:00:15","slug":"state-owned-e-finance-is-part-of-second-wave-of-egypts-privatization-program","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/22\/state-owned-e-finance-is-part-of-second-wave-of-egypts-privatization-program\/","title":{"rendered":"State-owned e-finance is part of second wave of Egypt\u2019s privatization program"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <b>IPO WATCH- Fintech company e-finance will IPO as part of the second privatization wave: <\/b>State-owned financial technology company <a href=\"https:\/\/www.efinance.com.eg\/about\/\">e-finance<\/a> will be part of the second wave of the state privatization program, which is set to begin as early as September, <a href=\"https:\/\/www.alborsaanews.com\/2019\/04\/21\/1198039\">Public Enterprises Minister Hisham Tawfik said<\/a>, without providing further details. E-finance is majority owned by the state\u2019s National Investment Bank (NIB), while major shareholders include the National Bank of Egypt, Banque Misr, the Egyptian Banks Company, and the Egyptian Company for Investment Projects. We <a href=\"https:\/\/enterprise.press\/stories\/2018\/01\/15\/national-investment-bank-could-sell-stakes-of-9-11-of-its-holdings-on-the-egx\/\">heard last year<\/a> of plans by NIB to list as many as 9-11 of its holdings on the EGX. Tawfik <a href=\"https:\/\/enterprise.press\/stories\/2019\/03\/04\/big-ipos-of-fresh-stocks-to-begin-in-september-minister-says-3\/\">told us last month<\/a> that the second wave of privatizations is expected to only involve new listings, and companies in the industrial, mining, and E&P sectors will be prioritized. One company will IPO each month, he said.<\/p>\n<p><b>Background: <\/b>The government kicked off the first wave of the program last month with <a href=\"https:\/\/enterprise.press\/stories\/2019\/03\/03\/in-surprise-move-govt-kickstarts-ipo-program-with-a-successful-eastern-tobacco-secondary-offering\/\">Eastern Tobacco\u2019s secondary offering<\/a> of a 4.5% stake. It is planning to soon offer a 20% stake sale in Abu Kir Fertilizers, which sources <a href=\"https:\/\/enterprise.press\/stories\/2019\/04\/10\/abu-kir-is-next-up-in-egypts-privatization-program-3\/\">said earlier this month<\/a> would be the second company in line. Alexandria Containers & Cargo Handling and Heliopolis Housing will also be part of the initial wave, which Tawfik said will finish before the Eid El Fitr break. All EGX sales in the first wave will be secondary offerings.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>IPO WATCH- Fintech company e-finance will IPO as part of the second privatization wave: State-owned financial technology company e-finance will be part of the second wave of the state privatization program, which is set to begin as early as September, Public Enterprises Minister Hisham Tawfik said, without providing further details. E-finance is majority owned by [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":603408,"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":[72,183,125,180,3557,2380,587],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-603407","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-enterpriseam","tag-fintech","tag-investment-watch","tag-legislation","tag-public-enterprises-act","tag-speed-round","tag-state-privatization-program","wpautop","entry"],"acf":{"mongo_id":"aeb98b5d-390c-4dbf-9d30-a2e37d8662f7","is_powered_by":true,"section_story_id":"29c6dca3-4097-481a-b866-7347003b16bc","story_type":"1","photo_url":"https:\/\/ent.news\/2019\/4\/Egypt-state-privatization-program-IPOs.jpg","photo_position":"above","related_issue":[603399],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>State-owned e-finance is part of second wave of 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\/22\/state-owned-e-finance-is-part-of-second-wave-of-egypts-privatization-program\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"State-owned e-finance is part of second wave of Egypt\u2019s privatization program\" \/>\n<meta property=\"og:description\" content=\"IPO WATCH- Fintech company e-finance will IPO as part of the second privatization wave: State-owned financial technology company e-finance will be part of the second wave of the state privatization program, which is set to begin as early as September, Public Enterprises Minister Hisham Tawfik said, without providing further details. E-finance is majority owned by [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/04\/22\/state-owned-e-finance-is-part-of-second-wave-of-egypts-privatization-program\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-04-22T04:00:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2019\/4\/Egypt-state-privatization-program-IPOs.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=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/04\/22\/state-owned-e-finance-is-part-of-second-wave-of-egypts-privatization-program\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/04\/22\/state-owned-e-finance-is-part-of-second-wave-of-egypts-privatization-program\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"State-owned e-finance is part of second wave of Egypt\u2019s privatization program\",\"datePublished\":\"2019-04-22T04:00:15+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/04\/22\/state-owned-e-finance-is-part-of-second-wave-of-egypts-privatization-program\/\"},\"wordCount\":240,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/04\/22\/state-owned-e-finance-is-part-of-second-wave-of-egypts-privatization-program\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2019\/4\/Egypt-state-privatization-program-IPOs.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EnterpriseAM\",\"Fintech\",\"investment watch\",\"legislation\",\"Public Enterprises Act\",\"SPEED ROUND\",\"state privatization program\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/04\/22\/state-owned-e-finance-is-part-of-second-wave-of-egypts-privatization-program\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/04\/22\/state-owned-e-finance-is-part-of-second-wave-of-egypts-privatization-program\/\",\"name\":\"State-owned e-finance is part of second wave of Egypt\u2019s privatization program - 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sale","author":"enterpriseam admin","date":"29 May 2019","format":false,"excerpt":"IPO WATCH- E-finance is going to IPO, and NI Capital is asking investment banks to pitch for the mandate: NI Capital, the state-owned investment bank that is shepherding the Sisi administration\u2019s IPO program, has invited several local investment banks to bid to quarterback the upcoming stake sale of fintech company\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":594690,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/04\/egyptian-state-owned-e-finance-roadshow-to-kick-off-before-christmas\/","url_meta":{"origin":603407,"position":1},"title":"Egyptian state-owned e-Finance roadshow to kick off before Christmas","author":"enterpriseam 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2019","format":false,"excerpt":"IPO WATCH- Gov\u2019t to offer 10-15% stake in e-Finance in 4Q2019: The government is planning to sell 10-15% of its financial technology company e-Finance in an IPO during 4Q2019 as part of the second wave of the state privatization program, sources close to the matter tell the local press. The\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":597537,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/30\/pharos-rencap-consortium-picked-as-financial-advisor-for-e-finance-ipo\/","url_meta":{"origin":603407,"position":3},"title":"Pharos-RenCap consortium picked as financial advisor for e-Finance IPO","author":"enterpriseam admin","date":"30 July 2019","format":false,"excerpt":"IPO WATCH- Pharos-RenCap consortium lands financial advisor job in e-Finance IPO: Our friends at Pharos have been chosen to act as joint global coordinators alongside Renaissance Capital in the anticipated stake sale of government-owned fintech company e-Finance, Pharos\u2019 Managing Director and Head of Investment Banking Noha Ghazaly told Enterprise. The\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":599632,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/06\/nib-to-select-nine-companies-for-second-phase-of-egypts-privatization-program\/","url_meta":{"origin":603407,"position":4},"title":"NIB to select nine companies for second phase of Egypt\u2019s privatization program","author":"enterpriseam admin","date":"6 January 2019","format":false,"excerpt":"**#2 IPO WATCH- NIB to select nine companies for second phase of state privatization program: The National Investment Bank (NIB) is expected to nominate nine state-owned companies for the second phase of the state privatization program, according to a Planning Ministry statement. The statement did not provide further details on\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":594533,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/01\/wave-two-of-egypts-state-privatization-program-kicked-to-early-2020\/","url_meta":{"origin":603407,"position":5},"title":"Wave two of Egypt\u2019s state privatization program kicked to early 2020","author":"enterpriseam admin","date":"1 September 2019","format":false,"excerpt":"EXCLUSIVE- Wave two of state privatization program kicked to early 2020: The second wave of the state privatization program, which consists only of IPOs, has been postponed to after January 2020 from an original September 2019 date, Public Enterprises Minister Hisham Tawfik told Enterprise. \u201cSome procedures have taken longer than\u2026","rel":"","context":"In &quot;Speed Round&quot;","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\/603407","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=603407"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/603407\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/603399"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/603408"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=603407"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=603407"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=603407"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=603407"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=603407"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}