Informed sources have told Daily News Egypt that Ebtikar Holding for Financial Investments plans to offer 25%-30% stake on the Egyptian Exchange (EGX).
The value and final percentage of the offering will be announced upon completion of the fair value study.
The sources expect the implementation of the offering process during the first quarter (Q1) of 2021, as part of the restructuring plan for Ebtikar’s two subsidiaries: BEE and Masary for electronic payments. The process is expected to be completed by mid-2021, in conjunction with its success in securing a number of contracts with various government agencies recently.
Ebtikar owns a 72% stake in Masary, with the remaining 28% share owned by Bahrain’s Sadad for electronic payment. Ebtikar also has 60% of Bee.
The restructuring plan includes a process of standardising the operating systems that the two companies use collectively, as well as implementing support contracts for the two companies through one client. There will also be an exchange of services, and technical and financial support, between the two entities.
Read More: https://dailynewsegypt.com/2020/12/05/ebtikar-for-e-payments-to-offer-25-stake-on-egx-by-q1-2021-sources/
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