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Amer starts private placement: adviser - Daily News Egypt

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Amer starts private placement: adviser

Egyptian real estate firm Amer Group started its private placement for shares on Tuesday and will launch an initial public offering (IPO) on Wednesday, a source at its financial advisor Beltone Financial said. Amer plans to sell 500 million shares in an IPO and private placement, a deal that values the firm at as much …


Egyptian real estate firm Amer Group started its private placement for shares on Tuesday and will launch an initial public offering (IPO) on Wednesday, a source at its financial advisor Beltone Financial said.

Amer plans to sell 500 million shares in an IPO and private placement, a deal that values the firm at as much as LE 7.7 billion ($1.3 billion). The private placement closes on Nov. 22, and the IPO closes on Nov. 25, the source said.

Amer Group, which will have 2.1 billion shares outstanding after the deal, is seeking a maximum of LE 3.60 per share, but has not announced the final price. It is selling 100 million shares in the IPO and the remainder in the private placement.

Amer’s IPO is Egypt’s second since 2008. Egyptian dairy and juice maker Juhayna Food Industries sold shares in an IPO in June.

 

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https://www.dailynewsegypt.com/2010/11/09/amer-starts-private-placement-adviser/
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