SIDPEC is preparing a 30% stake sale as part of the state’s privatisation programme, according to Al Mal. NI Capital, the state-owned investment bank managing the programme, signed contracts with the company in the previous week to advise on the transaction. Investment banks are yet to be invited to bid for roles in the transaction. The company has received seven bids from law firms and will not be fielding more offers for legal advisers.
Sidi Kerir: EGP11.56 as of 24 Jun. 2019, Rating: Buy, TP: EGP23.00/share, MCap: USD365mn, SKPC EY/SKPC.CA