EFG-Hermes targets four new Egypt IPOs until H1-2017

Egypt’s EFG-Hermes, the leading investment bank in the Middle East, is planning to make four new initial public offerings in the local stock market before the first half of 2017.

The four planned IPOs will be in consumer and industrial sectors, Mostafa Gad – EFG Hermes’ investment banking director – told Amwal Al Ghad – on Wednesday.

In 2016, Egypt’s largest investment bank has so far successfully run two IPOs worth $167.54 million for dairy maker Domty and healthcare firm Cleopatra Hospital Company.