Egypt’s leading fintech player, E-Finance said on Tuesday that the country’s government has pushed its anticipated initial public offering (IPO) to the first quarter of 2021.
The value of the listing will be determined during E-Finance’s next general assembly meeting in February, chairman Ibrahim Sarhan told reporters.
The listing was originally scheduled to take place this quarter after plans to go public in April were derailed by the coronavirus pandemic. This came after the government pushed the original plan to list in 2019 due unexpected delays.
The listing is aimed at increasing the company’s capital to inject more investments and finance expansions, Sarhan added.