Egypt's Ebtikar hires EFG Hermes to explore listing options

MM Group for Industry and International Trade owns 49.9% of Ebtikar

  
The Egyptian Exchange bell is seen at the stock exchange in Cairo, April 28, 2015. Image used for illustrative purpose

The Egyptian Exchange bell is seen at the stock exchange in Cairo, April 28, 2015. Image used for illustrative purpose

REUTERS/Mohamed Abd El Ghany

Cairo – MM Group for Industry and International Trade (MTI) and B Investments Holdings announced that Ebtikar Holding for Financial Investments appointed the Egyptian Financial Group Hermes Holding (EFG Hermes) to explore the various strategic options for listing the company or one or more of its subsidiaries on the Egyptian Exchange (EGX).

MTI owns 49.9% of Ebtikar, while B Investments Holdings holds a 20.3% stake, the two companies said in separate bourse disclosures on Monday.

Ebtikar Holding for Financial Investments is a non-banking financial services platform investing in several companies, including Vitas Misr, Bee, Masary, and Tamweel Group.

Source: Mubasher

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