Baker McKenzie, Matouk Bassiouny, Zulficar, Zaky Hashem compete to provide legal consultation for ENPPI’s IPO

Ahmed Farahat
2 Min Read

Daily News Egypt obtained a list of main bureaus competing to present legal consultation for the IPO of a share of ENPPI on the stock market.

The list includes Baker McKenzie Law Firm, Matouk Bassiouny Law Firm, Zulficar and Partners Law Firm, and Zaky Hashem and Partners Law Firm.

Sources related to the issue told Daily News Egypt that the offering’s regulations allow the lawyers to present financial offers to investment banks, which are competing over providing financial consultations to the IPO process, to select the best offer.

The sources added that Arqaam Capital Investment Bank has allied with Deutsche Bank to manage ENPPI’s IPO on the stock market. In addition, the Alexandria Bank has expressed its willingness to participate in the alliance.

The winning alliance to administrate the offering will be announced this month, and then the fair value of the stocks, the promotion operations, and the regulatory authorities’ approvals will be determined, according to the sources.

They pointed out that the administrators of the offering will coordinate with the winning alliance to choose the best timing of the offering, so as to guarantee a successful coverage.

Ashraf Ghazali, CEO of NI Capital, predicted that ENPPI’s IPO on the stock market would amount to $150m.

According to the general budget for the fiscal year 2017/2018, the government expects EGP 6-8bn in revenues from offering state companies on the stock market.

Share This Article