Pharos eyes 5 major deals in 2018

Cairo – Mubasher: Pharos Holding for Financial Investments is planning to complete four to five acquisition and capital boost deals, in addition to managing a new initial public offering (IPO) in 2018.

The company is currently considering to restructure a number of firms operating in the fields of food, healthcare, and education, in preparation for selling a stake of their shares on the Egyptian Exchange (EGX), Al-Masry Al-Youm reported, citing Pharos’ managing director and head of investment banking Sherif Abdel Aal.

Total transactions managed by Pharos amount to 15 that worth a combined EGP 6-10 billion, Abdel Aal noted.

The company has succeeded to manage about 24% of Altawfeek Leasing Company’s (AT Lease) IPO on EGX at the end of the last quarter of 2017, he said.

Pharos has also succeeded in completing four different transactions worth around EGP 6.5 billion, he added.

The new IPOs of state-owned companies will positively impact the EGX and boost current liquidity by bolstering traders’ base and foreign institutions’ flows, Abdel Aal forecast.

Mubasher Contribution Time: 14-Jan-2018 08:32 (GMT)
Mubasher Last Update Time: 14-Jan-2018 08:38 (GMT)

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