Egypt Post targeting IPO for its private equity arm

Egypt Post is planning an initial public offering (IPO) for its private equity arm Post for Investment (PFI) on the country’s bourse (EGX), its chairman said in an interview with CNBC Arabia on Sunday.

Market conditions and appetite from foreign investors will determine the timing and size of the offering, Sharif Farouk added.

Preparations for the IPO should wrap up by the end of the current financial year, Farouk noted.

Post for Investment, fully owned by Egypt Post, is a private equity firm that invests in areas of telecom, non-bank financial services, outdoor ads, and real estate. It has stakes in high-profile businesses, including Etisalat Misr, along with microfinance players Tamweely and Ayady.