Egypt’s Zaki Hashem & Partners advising on 3 IPOs, one for state firm

Egypt’s law firm Zaki Hashem & Partners (ZH&P) is advising on three initial public offerings (IPOs) through 2018, its managing director Yasser Hashem told Amwal Al Ghad on Monday.

“The IPOs are in the health and non-banking financial services sectors … we are advising on three IPOs, including one for a state-run firm,” Hashem said.

The government launched in 2017 an IPO programme that will offer shares in dozens of state-owned companies over the next three to five years in areas including oil, services, chemicals, shipping and real estate.

Egypt aims to offer about 80 billion Egyptian pounds ($4.55 billion) worth of shares in state companies as part of the IPO programme of state enterprises on the Cairo bourse in coming years.