Egypt aims to restore gas output, reach self-sufficiency by 2027: PM    EGP climbs vs USD in Wed.'s trading close    Egypt, Saudi Arabia reject Israeli plan to occupy Gaza    Egypt prepares to tackle seasonal air pollution in Nile Delta    Egypt adds automotive feeder, non-local industries to list of 28 promising sectors    Egypt, Jordan to activate MOUs in health, industrial zones, SMEs    27 Western countries issue joint call for unimpeded aid access to Gaza    Egypt's Sports Minister unveils national youth and sports strategy for 2025-2032    Egyptian, Ugandan Presidents open business forum to boost trade    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt, Colombia discuss medical support for Palestinians injured in Gaza    Australia to recognise Palestinian state in September, New Zealand to decide    Trump orders homeless out of DC, deploys federal agents and prepares National Guard    Egypt, Huawei explore healthcare digital transformation cooperation    Global matcha market to surpass $7bn by 2030: Nutrition expert    Egypt's Sisi, Sudan's Idris discuss strategic ties, stability    Egypt's govt. issues licensing controls for used cooking oil activities    Egypt to inaugurate Grand Egyptian Museum on 1 November    Oil rises on Wednesday    Egypt, Uganda strengthen water cooperation, address Nile governance    Egypt's Sisi: Egypt is gateway for aid to Gaza, not displacement    Egypt, Malawi explore pharmaceutical cooperation, export opportunities    Korean Cultural Centre in Cairo launches folk painting workshop    Egyptian Journalist Mohamed Abdel Galil Joins Golden Globe Voting Committee    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



JPMorgan, EFG-Hermes to be Working with Emaar on Egypt IPO - Sources
Published in Amwal Al Ghad on 03 - 11 - 2014

Emaar Properties PJSC (EMAAR) is hiring JPMorgan Chase & Co. (JPM) and EFG-Hermes Holding SAE (HRHO) to sell shares in its Egyptian business, two people with knowledge of the matter said.
Engagement letters are due to be signed with the banks this week to run the initial public offering of Emaar Misr, the people said, asking not to be identified as the information is private. The IPO is scheduled for the second quarter of 2015.
Emaar, the U.A.E. developer that raised $1.6 billion from an initial public offering of its malls unit in September, will probably sell the unit in June next year, Chairman Mohamed Alabbar said at a conference in Dubai on Oct. 2. The developer also plans to sell shares in its hotel business, Alabbar has said separately.
"Emaar is exploring the potential of listing our subsidiary in Egypt, Emaar Misr, by mid-2015. We will confirm the appointment of financial services firms and lead banks when they are finalized and at the appropriate time," the company said in an e-mailed statement.
Companies including Edita Food Industries SAE, a snacks maker part-owned by London-based buyout firm Actis LLP, and Etisalat Misr SAE, the Egyptian unit of Emirates Telecommunications Corp. are planning share sales in the North African country to take advantage of resurgent equity markets. Egypt's benchmark index has risen 38 percent this year.
JPMorgan was one of the joint global coordinators and bookrunners on the IPO of Emaar's malls business. EFG-Hermes also helped manage the sale.
Representatives for EFG-Hermes and JPMorgan declined to comment.
Source: Bloomberg


Clic here to read the story from its source.