Etisalat Misr mulling IPO plan

18 Mar 2014

Etisalat Misr, the Egyptian subsidiary of Abu Dhabi-based Emirates Telecommunications Corporation (Etisalat), is said to be considering a listing of its shares, according to Reuters. Commenting on the rumoured plans in an e-mailed statement, Etisalat Misr said: ‘Etisalat (Misr) is studying the best option for floating its shares on the bourse and the appropriate market for them, either on the Egyptian bourse or outside it … It is expected that the study will end soon, especially after the positive indicators that the Egyptian bourse has witnessed lately.’

Previous plans for an initial public offering (IPO) were said to have been put on hold due to the country’s volatile political climate, but it has been suggested that optimism regarding the state of the country’s economy has prompted the company to re-examine its options. In addition, another contributory factor could be the decision by the Egyptian financial regulator which saw a change in regulation aimed at boosting trading and attracting investment on the country’s stock exchange, and which also made it easier for companies to list on the bourse.

Egypt, Etisalat Misr, Etisalat UAE