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English news

11-Sep-2019

e-Finance IPO to take place by end of 2019

The planned IPO of state-owned payments platform e-Finance will take place by the end of the year, Chairman and Managing Director Ibrahim Sarhan said Monday at the Euromoney Conference, according to Ahram Online. Sarhan’s statement comes weeks after he told the newspaper that the IPO was not a certainty. A valuation of the company should be completed in October as the company prepares to go public in the next few months, Sarhan told the local press. Sarhan had previously estimated that the IPO would see the sale of 15% of the company’s shares on the EGX but told the newspaper yesterday that the size is still subject to decisions by the lead advisers.