{"id":626670,"date":"2018-07-09T04:19:51","date_gmt":"2018-07-09T04:19:51","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/09\/alex-container-and-cargo-handling-to-offer-additional-stake-on-egx-in-4q2018\/"},"modified":"2018-07-09T04:19:51","modified_gmt":"2018-07-09T04:19:51","slug":"alex-container-and-cargo-handling-to-offer-additional-stake-on-egx-in-4q2018","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/09\/alex-container-and-cargo-handling-to-offer-additional-stake-on-egx-in-4q2018\/","title":{"rendered":"Alex Container and Cargo Handling to offer additional stake on EGX in 4Q2018"},"content":{"rendered":"<p><strong>IPO WATCH- State-run Alexandria Container and Cargo Handling Company (ACCH) will list additional shares on the EGX in 4Q2018<\/strong>, an unnamed Maritime & Land Transport Holding Co. official <a href=\"http:\/\/almalnews.com\/Story\/381756\/11\/%D8%B7%D8%B1%D8%AD-%D8%AD%D8%B5%D8%A9-%D8%A5%D8%B6%D8%A7%D9%81%D9%8A%D8%A9-%D9%85%D9%86-%D8%A7%D9%84%D8%A5%D8%B3%D9%83%D9%86%D8%AF%D8%B1%D9%8A%D8%A9-%D9%84%D9%84%D8%AD%D8%A7%D9%88%D9%8A%D8%A7%D8%AA-%D8%A8%D8%A7%D9%84%D8%A8%D9%88%D8%B1%D8%B5%D8%A9\">tells Al Mal<\/a>. A committee from the Alex Port Authority, NI Capital, and the Public Enterprises Ministry is currently in talks to set a date for the sale and is said to be shopping for investment bankers. A fair value study to back the stake sale is already in progress, according to the source, who no indication of how large the transaction might be.<\/p>\n<p><strong>Background: <\/strong>Sources had <a href=\"https:\/\/enterprise.press\/stories\/2018\/04\/10\/will-listed-state-owned-companies-be-prioritized-in-the-state-ipo-program\/\">previously said<\/a> that the government was planning to sell an additional 15% stake of ACCH on the EGX, bringing the company\u2019s total freefloat to 20%. The holding company would sell 8.7% of its shares in ACCH (out of a total ownership stake of 55.8%), with the remaining 6.3% coming from the Alexandria Port Authority\u2019s 40% stake, sources said at the time. ACCH <a href=\"https:\/\/enterprise.press\/stories\/2018\/05\/14\/nine-companies-including-orange-egypt-face-mandatory-delisting-by-mid-june\/\">faced delisting earlier<\/a> this year for failing to meet the EGX\u2019s minimum free float requirements. ACCH is one of 23 companies in the state <a href=\"https:\/\/enterprise.press\/stories\/2018\/03\/19\/govt-unveils-the-lineup-for-the-state-ipo-program\/\">privatization program\u2019s lineup<\/a>. <strong>The official timeline for the program could be revealed as <\/strong><a href=\"https:\/\/enterprise.press\/stories\/2018\/07\/08\/one-step-closer-to-the-privatization-program\/\"><strong>early as this week<\/strong><\/a>, with the Eastern Tobacco Company\u2019s additional 4% stake sale widely expected to lead the way.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>IPO WATCH- State-run Alexandria Container and Cargo Handling Company (ACCH) will list additional shares on the EGX in 4Q2018, an unnamed Maritime &#038; Land Transport Holding Co. official tells Al Mal. A committee from the Alex Port Authority, NI Capital, and the Public Enterprises Ministry is currently in talks to set a date for the [&hellip;]<\/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":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-626670","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"f0d701a6-4361-472c-9d81-a5f037c0e35a","order":"0","is_powered_by":true,"section_story_id":"d57a8cd0-8f7c-44ef-a7b1-252967387f36","story_type":"1","photo_url":"","photo_position":"above","related_issue":[626660],"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>Alex Container and Cargo Handling to offer additional stake on EGX in 4Q2018 - 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\/2018\/07\/09\/alex-container-and-cargo-handling-to-offer-additional-stake-on-egx-in-4q2018\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Alex Container and Cargo Handling to offer additional stake on EGX in 4Q2018\" \/>\n<meta property=\"og:description\" content=\"IPO WATCH- State-run Alexandria Container and Cargo Handling Company (ACCH) will list additional shares on the EGX in 4Q2018, an unnamed Maritime &amp; Land Transport Holding Co. official tells Al Mal. 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The issuances are expected to raise EGP 12-15\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":624416,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/09\/eastern-company-to-pilot-governments-privatization-program-efg-to-manage-transaction\/","url_meta":{"origin":626670,"position":4},"title":"Eastern Company to pilot government\u2019s privatization program, EFG to manage transaction","author":"enterpriseam admin","date":"9 September 2018","format":false,"excerpt":"**#3 Eastern Company to pilot government\u2019s privatization program, EFG to manage sale: EFG Hermes was tapped to manage the first transaction in the state\u2019s reborn privation program, which will see the sale of additional 4.5% stake in cigarette maker Eastern Company on the EGX, Finance Minister Mohamed Maait said in\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":622427,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/01\/seven-reported-bidders-for-alex-containers-stake-sale\/","url_meta":{"origin":626670,"position":5},"title":"Seven reported bidders for Alex Containers stake sale","author":"enterpriseam admin","date":"1 October 2018","format":false,"excerpt":"Seven bidders for Alex Containers stake sale: Seven investment banks and consortiums submitted last week their bids to quarterback the upcoming sale of an additional stake in state-owned Alexandria Containers & Cargo Handling (ACCH), unidentified sources tell Al Mal. 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