Eastern Co. first company in state privatisation pipeline; sale expected in October
Eastern Company [EAST.CA] is the first company in the state privatisation programme to announce that its share sale will be managed by a private sector bank. The company has signed a contract with state-owned NI Capital, which will hold an international tender for private sector banks to manage the sale of an additional 4.5% of the company on EGX in Oct 2018.
Eastern Company: EGP163.11 as of 9 Aug. 2018, Rating: Neutral, TP: EGP180.00/share, MCap: USD2,743mn, EAST EY/EAST.CA
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