Enppi’s IPO Evaluated at $213M

Enppi’s IPO Evaluated at $213M

The evaluation of the Engineering for the Petroleum & Process Industries (Enppi)’s initial public offering (IPO) resulted in early estimates ranging between $213 million and $267 million, Al Mal News.

The Egyptian government is expected to raise up to $150 million from Enppi’s IPO, according to Amwal Al Ghad. The move is part of a government plan to offer state-owned companies for public offering as a way of raising funds. Where in January, Former Minister of Investments, Dalia Khorshed, had announced the commencement of Enppi’s IPO, among other state-owned companies, marking the first phase of privatizing public firms in the EGX.

The Ministry Petroleum and Mineral Resources had previously announced that a banking consortium consisting of ICapital, Geoffrey International, and Emirates NBD had been awarded the arrangement of Enppi’s IPO to offer 24% of Enppi’s shares in the Egypt’s Stock Exchange (EGX).

Established 1978, Enppi is a state owned company providing engineering, procurement, construction supervision, and project management services for the oil and gas sector.

Nadine Abou el Atta 43 Posts

With 10 years of experience, Nadine has been published in several industries and has headed three different editorial teams, each focused on a separate industry. She also holds a master's degree in marketing and a bachelor's in economics.

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