Beltone Financial to make 4 IPOs in 2015

GMT 20:54 2015 Wednesday ,11 March

Arab Today, arab today Beltone Financial to make 4 IPOs in 2015

Egyptian Exchange
Cairo - MENA

Beltone Financial will be making four big offerings on the Egyptian Exchange (EGX) in 2015, said Alaa Sabae, the company's board chairman, Wednesday.
The offerings will cover the financial, communications, petroleum and real estate sectors, Sabae told MENA.
An initial public offering (IPO) of a Beltone Capital Company worth one billion pounds will be made, Sabae said.
A Giza Systems Company will also be put up for grabs, he added, noting that it is one of Egypt's top communications companies that is operating in seven countries in the Middle East and North Africa.
An IPO of a petroleum services company worth 130 million dollars will also be made, Sabae said.
The fourth offering is of the Al Ismailia for Real Estate Investments, Sabae said, noting that the company aims to increase its capital from 375 million pounds to 775 million.
Al Ismailia for Real Estate Investments is seeking to renovate Downtown Cairo, he noted.
Sabae believes the EGX can take all IPOs to be made in the coming stage.
Establishing new companies will sure bring in more liquidity to the EGX, he said.
Sabae said that giant international investment funds and institutions are seeking to invest in the EGX, noting that if those allocate only one percent of their investment portfolio for the Egyptian market they will help cover all IPOs on the EGX.
The problem with the EGX is that it is a small market and has very limited number of giant companies, Sabae said.


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