National Printing is a step away from going public on EGX: Heikal
Updated 7/17/2023 8:41:00 AM
Arab Finance: The National Printing Company, a subsidiary of Qalaa Holdings, is close to be listed in the Egyptian Exchange (EGX) after meeting the stock market’s listing requirements, Hapi Journal reported, citing Qalaa Chairman Ahmed Heikal.
Heikal expects the company to meet the listing requirements and submit its registration documents to the EGX and the Financial Regulatory Authority (FRA) in September or October, adding that the indicative fair value has not been set yet.
Afterward, National Printing will have a maximum of six months to start trading.
EFG Hermes acts as the financial advisor and Zulficar and Partners serves as the legal advisor, sources familiar with the matter said.
National Printing is also planning to restructure its ownership after listing, as part of debts owed to shareholders will be converted into shares and some indirect stakes will be converted into direct stakes, Heikal said.
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