{"id":655467,"date":"2024-11-19T00:00:00","date_gmt":"2024-11-19T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/19\/al-ahly-sabbour-plans-to-offer-up-to-a-25-stake-on-the-egx\/"},"modified":"2024-11-19T00:00:00","modified_gmt":"2024-11-19T00:00:00","slug":"al-ahly-sabbour-plans-to-offer-up-to-a-25-stake-on-the-egx","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/19\/al-ahly-sabbour-plans-to-offer-up-to-a-25-stake-on-the-egx\/","title":{"rendered":"Al Ahly Sabbour plans to offer up to a 25% stake on the EGX"},"content":{"rendered":"

Another IPO planned for the EGX is in the works: <\/strong>Local real estate developer Al Ahly Sabbour is looking to list some 20-25% of its shares on the EGX, Chairman Ahmed Sabbour told Asharq Business<\/a>. The company expects to tap an advisor in early 2025, Sabbour said, adding that the final decision on the exact stake to be offered rests with the board and the chosen advisor. The company\u2019s ownership is split between the National Bank of Egypt, which holds a 40% stake, and the Sabbour family, which owns the remaining 60%.<\/p>\n

Remember:<\/strong> Sabbour told the media back in July that the company was in talks with<\/a>undisclosed advisors<\/a> regarding its plans to go public, adding that preparations are expected to wrap up by March 2025<\/p>\n

The IPO has been in the pipeline for a while:<\/strong> It was reported in October 2017 that the company would list its shares<\/a> on the bourse within a year.<\/p>\n

WHAT\u2019S THE FAIR VALUE OF UNITED BANK- <\/p>\n

United Bank establishes fair value of shares ahead of approaching IPO:<\/strong> Central Bank of Egypt-owned United Bank\u2019s shares have a fair value of EGP 15.73, according to the IPO prospectus (pdf)<\/a> published on the EGX yesterday. This price would the value the total offering at EGP 5.2 bn.<\/p>\n

This is more than what the lender has penciled in for its IPO: <\/strong>The lender had set an<\/a>indicative price<\/a>range<\/a> of EGP 12.70-15.60 per share for its upcoming IPO on the EGX, potentially raising between EGP 4.2-5.1 bn. The final offer price will be determined through the bookbuilding process. <\/p>\n

Remember:<\/strong>The lender revealed its intention to float 330 mn of its sharee<\/a> \u2014 equivalent to a 30% stake \u2014 on the EGX last month, with plans to to make its EGX debut before the end of the year. <\/p>\n

Advisors:<\/strong> CI Capital will act as sole global coordinator and bookrunner for the offering, while Helmy, Hamza & Partners \u2014 Baker McKenzie\u2019s Cairo office \u2014 has been appointed as counsel. Baker Tilly is independent financial advisor and Ernst & Young (EY) is auditor.<\/p>\n","protected":false},"excerpt":{"rendered":"

The company\u2019s ownership is split between the National Bank of Egypt and the Sabbour family<\/p>\n","protected":false},"author":1,"featured_media":655468,"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":[7224],"tags":[4290,72,78,7193],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-655467","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-al-ahly-sabbour","tag-enterpriseam","tag-ipo-watch","tag-united-bank","wpautop","entry"],"acf":{"mongo_id":"0410565f-2df4-43e1-848d-263a4719dd75","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/11\/1775.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Al Ahly Sabbour plans to offer up to a 25% stake on the EGX","related_issue":[655457],"teaser":"The company\u2019s ownership is split between the National Bank of Egypt and the Sabbour family","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.e41e095c-5d98-4b7d-aa59-f9f771aea3dc.mp3"},"yoast_head":"\nAl Ahly Sabbour plans to offer up to a 25% stake on the EGX - 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The company is currently deciding between three potential global coordinators for the transaction, he added, stopping short of naming names. 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Sabbour did not say whether the company has entered talks with banks\u2026","rel":"","context":"In "Banking + Finance"","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":569963,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/12\/al-ahly-sabbour-signs-egp-5-bn-agreement-with-the-urban-communities-authority-to-develop-6th-of-octobers-keeva\/","url_meta":{"origin":655467,"position":3},"title":"Al Ahly Sabbour signs EGP 5 bn agreement with the Urban Communities Authority to develop 6th of October\u2019s Keeva","author":"enterpriseam admin","date":"12 March 2020","format":false,"excerpt":"Real estate developer Al Ahly Sabbour has signed an agreement with the New Urban Communities Authority worth an estimated EGP 5 bn to develop the Keeva compound in Sixth of October, Al Mal reports. Company chairman, Hussein Sabbour, said that the compound will be built across 144 acres in four\u2026","rel":"","context":"In "Real Estate + Housing"","block_context":{"text":"Real Estate + Housing","link":"https:\/\/enterpriseam.com\/egypt\/category\/real-estate-housing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":576002,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/05\/al-ahly-sabbour-breaks-ground-on-new-capital-mixed-use-project\/","url_meta":{"origin":655467,"position":4},"title":"Al Ahly Sabbour breaks ground on new capital mixed-use project","author":"enterpriseam admin","date":"5 November 2020","format":false,"excerpt":"Real estate developer Al Ahly Sabbour broke ground last month on a 200-300 feddan mixed-use project it\u2019s developing in the new administrative capital in partnership with an unnamed party, CEO Ahmed Sabbour told the press. The company is planning to finish the project within five years..","rel":"","context":"In "Real Estate + Housing"","block_context":{"text":"Real Estate + Housing","link":"https:\/\/enterpriseam.com\/egypt\/category\/real-estate-housing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":648649,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/04\/09\/sabbour-group-mulls-al-ahly-real-estate-ipo-by-mid-2017-to-finance-expansion-plans\/","url_meta":{"origin":655467,"position":5},"title":"Sabbour Group mulls Al Ahly Real Estate IPO by mid-2017 to finance expansion plans","author":"enterpriseam admin","date":"9 April 2017","format":false,"excerpt":"The Sabbour Group is contemplating the IPO of subsidiary Al Ahly for Real Estate Development by mid-2017, Managing Director Ahmed Sabbour told Al Borsa yesterday. Al Ahly \u2014 a joint venture between Sabbour Consulting and the National Bank of Egypt \u2014 is looking to finance expansion plans through the offering.\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\/655467","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=655467"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/655467\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/655457"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/655468"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=655467"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=655467"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=655467"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=655467"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=655467"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}