Egyptian Media Group signs deal with FEP for listing on Egyptian stock market

Mohamed Samir
2 Min Read

Egyptian Media Group signed a deal with FEP Capital to act as the exclusive stock advisor to the recently formed group. The agreement was signed at the headquarters of FEP Capital, with the attendance of the group’s chairperson Ahmed Abou Hashima, chairperson of FEP Capital Abdullah Shahin, and managing director Omar Maghawri.

“Being one of the most powerful investment bankers in the Egyptian market currently, the choice of FEP capital was based on its firm position and our confidence in their expertise. The Egyptian Media Group aims to become regionally and internationally stronger,” said Abou Hashima.

Shahin said putting a giant entity such as Egyptian Media Group up for an initial public offering (IPO) on the stock market at this time would have a major positive impact and move the stagnant water in the stock market

“The agreement includes a financial restructuring process of Egyptian Media Group and all its affiliates to integrate activities in different companies and financial savings, in preparation for the Egyptian Exchange,” said Maghawri.

He added that there is a plan for the group’s financial future that will include setting up and rehabilitating any new expansions through the injection of funds, or acquisition of other entities, in addition to examining all market and competitive opportunities that would complement the group’s activities.

Maghawri said that Egypt Media Group looks to increase its paid-up capital from EGP 882m to EGP 1bn by the end of 2016—within the limits of the issued capital and with a total authorised capital of EGP10bn.

Egyptian Media Group purchased OnTV channels from the Egyptian business tycoon Naguib Sawiris, and owns 50% in shares of the Egypt for Cinema Company, owned by businessman Kamel Abu Ali; and 51% of Presentation Group, which specialises in advertising; and the live broadcast copyrights of football matches.

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Mohamed Samir Khedr is an economic and political journalist, analyst, and editor specializing in geopolitical conflicts in the Middle East, Africa, and the Eastern Mediterranean. For the past decade, he has covered Egypt's and the MENA region's financial, business, and geopolitical updates. Currently, he is the Executive Editor of the Daily News Egypt, where he leads a team of journalists in producing high-quality, in-depth reporting and analysis on the region's most pressing issues. His work has been featured in leading international publications. Samir is a highly respected expert on the Middle East and Africa, and his insights are regularly sought by policymakers, academics, and business leaders. He is a passionate advocate for independent journalism and a strong believer in the power of storytelling to inform and inspire. Twitter: https://twitter.com/Moh_S_Khedr LinkedIn: https://www.linkedin.com/in/mohamed-samir-khedr/
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