A.T. Lease puts off Cairo listing plans until Q4

Egypt’s Shariah-compliant leasing firm, A.T. Lease has postponed plans for a Cairo listing until the fourth quarter of the current year.

The company was supposed to list 15 percent of its shares on the country’s bourse within the second quarter but preferred to postpone due to the current market changes that occurred following the pound floatation move in early November.

A.T. Lease has completed reassessing its shares and the auditor is revising the fair value before submitting it to the market regulator and the Egyptian bourse administration, chief executive Tarek Fahmy told Amwal Al Ghad on Sunday.

“So far, the IPO will be before the end of 2017, but in case of witnessing new market updates, may be then we’ll have to take the postponement decision.” Fahmy said.

A.T. Lease was ranked first in terms of the country’s market share, recording a 13.4 percent at the end of March, according to the Egyptian Financial Supervisory Authority’s latest report.