NI Capital initiates IPO of National Investment Charity Education Fund

By | Investment Management

CAIRO – 18 December 2019: Planning Minister Hala el Saaed announced on Thursday that NI Capital, a leading Egyptian financial services holding company, has initiated IPO of the National Investment Charity Education Fund; the first charity education fund of its kind in Egypt.

The IPO starts with at least LE 100 and has no upper limit, the Planning Ministry said in a statement on Wednesday.

Saaed said that the National Investment Charity Education Fund is an investment vehicle established to create sustainable support to efforts aimed at enhancing the quality of the education system and shore up the education reform program currently being implemented by the Education Ministry; ultimately transforming the youth for a better future, the statement said.

NI Capital is the investment manager of the fund. The fund aims to mobilize resources and inspire local and international communities to invest in education for sustainable economic, social and environmental development.

NI Capital Announces the Launch of the Request for Proposal Process for ENPPI’s IPO

By | Investment Banking Advisory

NI Capital, a sovereign subsidiary of the National Investment Bank and the sole advisor to the government on the IPO program, announces the launch of the Request for Proposal process to invite qualified local and international investment banks to bid for the role of global coordinator/lead arrangers (along with necessary consortium members) for the minority sale of ENPPI’s share on the Cairo Stock Exchange.

This step marks the kickoff of the first transaction in the government’s sponsored IPO program under the patronage of the Ministry of Investment & International Cooperation which is part of Egypt’s recent economic and policy reform efforts. The IPO program is fueled by a fundamental belief in the role of the Egyptian stock exchange as an immediate source of fresh funds, a means to diversify funding sources for the state and a catalyst to widening ownership base of state-run firms.

“NI Capital is pleased to announce the launch of the RFPs process for ENPPI’s potential IPO, which marks the first milestone in this important transaction.  We are confident that this transaction will be a success; ENPPI is one of the most successful oil and gas EPC contractors in the region.” said Ashraf Ghazaly, CEO and Managing Director at NI Capital. “The Ministry of Investment and International Cooperation along with the Ministry of Petroleum and Mineral Resources are affording this transaction all the support it merits” added Ghazaly.