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Company will announced IPO price next week
By Muhammad Adel After amending the listing rules of companies in the Egyptian stock exchange, the Ministry of Petroleum is preparing an initial public offering (IPO) of new petrochemicals companies, said Samir Azer undersecretary of the Ministry of Finance. Following a meeting between Minister of Petroleum Sherif Ismail and chairman of EGX Mohamed Omran, the …
Reuters – Egypt’s Arabian Cement Company has set an indicative price range for its planned stock market listing at between EGP 8.45 and EGP 9.55 ($1.37), with trading to begin on or around 21 May, Chief Executive Jose Maria Magrina said on Monday. The deadline for buying orders will be on 8 May for private …
Reuters – National Commercial Bank, Saudi Arabia’s biggest bank by assets, plans to boost its capital by SAR 5bn ($1.3bn) through conversion of its retained earnings into capital, it said in an emailed statement on Tuesday. The announcement comes one month after the Saudi government said it planned to float 15% of the state-owned bank …
The last major IPO on the Egyptian exchange was in 2010.
Back-to-school season helps push technology companies’ IPOs up.
The company will trade under the “TWTR” symbol on the New York Stock Exchange, breaking from the Nasdaq market used by a large number of tech companies.
This suggests a market value of some $15bn for the initial public offering (IPO), PrivCo says, using a “conservative” pricing at 30 times its annual revenue.
Finance Ministry advisor: Sukuk not affected by Egypt’s recent credit downgrading
UK based bank has made previous attempts to enter Egyptian market by way of purchasing local banks
Telecom Egypt (TE) raised LE 5. 132 billion ($892 million) from its initial public offering, valuing the company at $4. 6 billion on the London and Cairo exchanges where it will begin trade next week, it said on Thursday.