{"id":603450,"date":"2019-04-23T03:59:36","date_gmt":"2019-04-23T03:59:36","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/23\/heliopolis-housing-out-of-first-wave-of-stake-sales-no-stake-sales-during-summer\/"},"modified":"2019-04-23T03:59:36","modified_gmt":"2019-04-23T03:59:36","slug":"heliopolis-housing-out-of-first-wave-of-stake-sales-no-stake-sales-during-summer","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/23\/heliopolis-housing-out-of-first-wave-of-stake-sales-no-stake-sales-during-summer\/","title":{"rendered":"Heliopolis Housing out of first wave of stake sales; no stake sales during summer"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <b>EXCLUSIVE- Heliopolis Housing dropped from first wave of state privatization program:<\/b> Heliopolis Company for Housing and Development has been dropped from the lineup of companies included in the first wave of the state privatization program, Public Enterprises Minister Hisham Tawfik tells Enterprise. This leaves Abu Qir Fertilizers and Alexandria Containers and Cargo Handling Company (ALCN) remaining in the first wave. Tawfik declined to disclose which of the two companies is up first, saying to do so could adversely impact the transactions. Both ALCN and Abu Qir are listed on the EGX; the upcoming transactions would accordingly be stake sales through accelerated book builds.<\/p>\n<p><b>One more offering could land before Eid, but none during the summer:<\/b> Abu Qir or ACCH could go to market 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, the minister tells us. The state will be targeting foreign investors with the sales, Tawfik added, as it did with the transaction in March on Eastern Tobacco.<\/p>\n<p><b>Background:<\/b> The government kicked off the first wave of the program <a href=\"https:\/\/enterprise.press\/stories\/2019\/03\/03\/in-surprise-move-govt-kickstarts-ipo-program-with-a-successful-eastern-tobacco-secondary-offering\/\">last month<\/a> with Eastern Tobacco\u2019s secondary offering of a 4.5% stake. Both Alex Containers and Abu Qir will be secondary offerings. Alexandria Mineral Oils Company (AMOC) had also been slated to go ahead in the first wave, but was sidelined <a href=\"https:\/\/enterprise.press\/stories\/2019\/02\/11\/government-expects-to-announce-list-of-ipo-companies-within-two-weeks\/\">earlier this year<\/a> after an unexpected fall in profits. The first phase of the program was delayed last year as the emerging markets sell-off hit the EGX. The ambitious program had an initial line up of 23 companies slated either for IPO or for a secondary offering.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>EXCLUSIVE- Heliopolis Housing dropped from first wave of state privatization program: Heliopolis Company for Housing and Development has been dropped from the lineup of companies included in the first wave of the state privatization program, Public Enterprises Minister Hisham Tawfik tells Enterprise. This leaves Abu Qir Fertilizers and Alexandria Containers and Cargo Handling Company (ALCN) [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":603451,"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":[11274,11462,72,157,153,78,2380,587],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-603450","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-abu-kir-fertilizers","tag-alexandria-containers-cargo-handling-company","tag-enterpriseam","tag-heliopolis-housing-and-development","tag-hisham-tawfik","tag-ipo-watch","tag-speed-round","tag-state-privatization-program","wpautop","entry"],"acf":{"mongo_id":"7e66f5c5-3a91-4945-bca1-7e4238a3d0f4","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2019\/4\/Egypt-state-privatization-program-IPOs.jpg","photo_position":"above","related_issue":[603445],"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>Heliopolis Housing out of first wave of stake sales; no stake sales during summer - 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\/23\/heliopolis-housing-out-of-first-wave-of-stake-sales-no-stake-sales-during-summer\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Heliopolis Housing out of first wave of stake sales; no stake sales during summer\" \/>\n<meta property=\"og:description\" content=\"EXCLUSIVE- Heliopolis Housing dropped from first wave of state privatization program: Heliopolis Company for Housing and Development has been dropped from the lineup of companies included in the first wave of the state privatization program, Public Enterprises Minister Hisham Tawfik tells Enterprise. This leaves Abu Qir Fertilizers and Alexandria Containers and Cargo Handling Company (ALCN) [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/04\/23\/heliopolis-housing-out-of-first-wave-of-stake-sales-no-stake-sales-during-summer\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-04-23T03:59:36+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\/23\/heliopolis-housing-out-of-first-wave-of-stake-sales-no-stake-sales-during-summer\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/04\/23\/heliopolis-housing-out-of-first-wave-of-stake-sales-no-stake-sales-during-summer\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Heliopolis Housing out of first wave of stake sales; 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Sinai Manganese Company might be: Alexandria Mineral Oils Company (AMOC), which had earlier been dropped from the first wave of the state privatization program after posting an unexpected dip in profits, will not take part in the second\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":627140,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/24\/govt-unveils-timeline-of-first-wave-of-state-privatization-program\/","url_meta":{"origin":603450,"position":2},"title":"Gov\u2019t unveils timeline of first wave of state privatization program","author":"enterpriseam admin","date":"24 July 2018","format":false,"excerpt":"Gov\u2019t unveils timeline of first wave of state privatization program: Public Enterprises Minister Hisham Tawfik unveiled the timeline for the initial wave of five companies that will see a stake sale as part of the government privatization program. Heliopolis for Housing and Development and Eastern Company will kick off 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\/2018\/7\/222.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":593413,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/27\/heliopolis-housing-to-sell-22-25-stake-in-1q2020-tawfik-says\/","url_meta":{"origin":603450,"position":3},"title":"Heliopolis Housing to sell 22-25% stake in 1Q2020, Tawfik says","author":"enterpriseam admin","date":"27 November 2019","format":false,"excerpt":"PRIVATIZATION WATCH- HHD to sell 22-25% stake in 1Q2020, Tawfik says: State-owned Heliopolis Housing and Development (HHD) will offer a 22-25% stake in a secondary offering scheduled to go to market in 1Q2020, Public Enterprises Minister Hisham Tawfik said, according to Reuters. This means that 12-15% of the company will\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\/2020\/1\/687.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":598874,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/11\/demand-is-high-for-further-secondary-offerings-tawfik\/","url_meta":{"origin":603450,"position":4},"title":"Demand is high for further secondary offerings -Tawfik","author":"enterpriseam admin","date":"11 June 2019","format":false,"excerpt":"Demand is high for further secondary offerings -Tawfik: There is high demand for the next two secondary offerings scheduled take place in the first wave of the state privatization program, Public Enterprise Minister Hisham Tawfik told Al Mal during a forum at the Egyptian Center For Economic Studies, without naming\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\/2020\/2\/259.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":603407,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/22\/state-owned-e-finance-is-part-of-second-wave-of-egypts-privatization-program\/","url_meta":{"origin":603450,"position":5},"title":"State-owned e-finance is part of second wave of Egypt\u2019s privatization program","author":"enterpriseam admin","date":"22 April 2019","format":false,"excerpt":"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.\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\/2019\/4\/Egypt-state-privatization-program-IPOs.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\/603450","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=603450"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/603450\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/603445"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/603451"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=603450"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=603450"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=603450"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=603450"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=603450"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}