With an aim to raise US$150mn from an initial public offering (IPO), Egyptian government plans to sell 24 per cent stake of the state-owned Engineering for the Petroleum and Process Industries (ENPPI) on the domestic equity market
Egypt is looking forward to make this IPO programme successful to add value to the country’s economic development.
Privately managed NI Capital, Egypt’s state-owned financial consultancy, will evaluate the fair value of ENPPI before the end of 2017.
Ashraf Ghazaly, CEO of NI Capital, said that it expects to raise between US$100mn-US$150mn from the ENPPI’s IPO.
