Egyptian investment bank FEP Capital expects to complete a 10 million pound ($558,646) listing of an industrial firm on the country’s SME bourse before the end of this year.
This is part of FEP Capital’s strategy to complete between three to four listings on NILEX per year, chief executive Omar El Maghawry said on Wednesday.
“We are also planning to list another industrial firm with a 7-million-pound capital in the first quarter of 2017,” El Maghawry added.
FEP Capital, part of regional First Equity Partners (FEP), is a private Equity, investment banking, and consultancy company; it is the most recent investment bank working in Egypt.
NILEX is the Egyptian Exchange market for growing medium and small companies, set up in 2007 to allow SME’s to raise funds outside bank loans. More than 30 companies are currently listed on NILEX.