Unionaire Group is planning to offer about 30% of its shares in an initial public offering (IPO) on the Egyptian Exchange (EGX), as the company mulls expanding in regional markets, a senior company official told Daily News Egypt. “We expect the IPO to be carried out by the end of the third quarter,” the source added. KPMG Hazem Hassan Financial Consultancy and Auditing is collaborating with EFG Hermes to restructure Unionaire Group, while Matouk Bassiouny and Sarie Eldin & Partners will act as legal advisers for the deal. Growing confidence in economic policies introduced since the currency flotation has boosted the Egyptian stock market and is prompting companies to consider share sales. Property developers Rooya Group and Landmark Sabbour have announced IPO plans, while Carbon Holdings has hired investment bank EFG Hermes to manage its market debut.

Source: Daily News Egypt May 06, 2018 06:33 UTC