The Egyptian state-controlled electronic payments company for digital and financial investments “e-finance” said on Sunday that it will offer up to 14.5% of its capital in an initial public offering (IPO) in Q4 of 2021.
e-finance said in a statement that it is the only entity authorized to operate the government’s financial network, including processing and settling payment and collection transactions.
e-finance said it will offer 177.8 million new shares to the stock exchange market and 80 million shares owned by existing shareholders, to institutional and retail investors.
Among its shareholders are three state-owned banks: the National Investment Bank with 63.64%, the National Bank of Egypt and Banque Misr, each with 9.09%.
The Egyptian Banks Company, led by the central bank, and the Egyptian Company for Investment Projects each own another 9.09%.