GB Auto considers spinning off GB Capital; to IPO business in 2020
GB Auto [AUTO.CA] is considering spinning off its NBFI arm, GB Capital, into a separate entity with the intention to eventually list its shares on the EGX in an initial public offering (IPO) in 2020. The company plans to continue to expand its non-bank financial services platform through GB Capital and its five subsidiaries. (Al Mal)
GB Auto: EGP4.58 as of 17 Apr. 2019, Rating: Buy, TP: EGP7.50/share, MCap: USD291mn, AUTO EY/AUTO.CA
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