Lazard Eyes Advising on Wadi Group’s IPO on Egypt Bourse

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Leading investment bank Lazard Frères Banque SA is offering to asses Wadi Holdings’ assets to support pre-IPO process on the Egyptian bourse, said Wadi’s chairman Musa Freji.

According to Freji, the French company is seeking an asset assessment for Wadi Holdings (Wadi Group) as a pre-listing step before a planned initial public offering (IPO) process on Egyptian Exchange (EGX) within two years from now.

Wadi Group has not decided yet about the amount of shares to be sold on the EGX, he noted.