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Suez Cement (SUCE.CA) - Board of Directors Decision       Release from Suez Cement (SUCE.CA) Concerning the Call for the EGM       Qalaa Holding BoD approves ESOP program       Parliament to discuss new laws on medicine, education Sunday       Orange Egypt BoD ratifies losses of LE235 m ending Sept 2018       Juhayna profits increase to LE359 m ending Sept 2018       EGX sets prices limits of Palm Hillss right for Sunday       Juhayna revenues jump 15% in 3Q2018       Release from Medical Packaging Company (MEPA.CA) Concerning the Investor Relations Officer       Release from ARAB POLVARA SPINNING & WEAVING CO. (APSW.CA) Concerning a Lawsuit       Release from Sidi Kerir Petrochemicals (SKPC.CA)       Release from Juhayna Food Industries (JUFO.CA) Concerning BODs Report       Citadel Capital (CCAP.CA CCAPP.CA) - Board Of Directors Decisions       Alexandria Mineral Oils Company (AMOC.CA) - Board of Directors Meeting Minutes       Release from Arabia Investments , Development , Financial Investments Hol (AIND.CA) Concerning the EGM       Release from Misr Chemical Industries (MICH.CA) Concerning the BoD Meeting       Real Estate Egyptian Consortium (AREHA.CA-AREH.CA) - Decisions of the Board of Directors Meeting       Orange Egypt for Telecommunications (OREG.CA) - Board of Directors Decisions       Release from Eastern Tobacco (EAST.CA) Concerning Companys Shares       Release from Juhayna Food Industries (JUFO.CA) Concerning the Financial Results      
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NI Capital, EFG-Hermes consider further alternatives to price Eastern Co. share


Cairo: In collaboration with governments investment bank NI Capital, EFG-Hermes (HRHO) is exploring alternatives to price the share of Eastern Tobacco Company in preparation for offering an additional 4.5% stake of the firm shares on the Egyptian Exchange to ensure that the negative performance of the capital market will not affect floatation.
It should be recalled that Prime Minister issued a decree in last June to re-regulate state-owned companies IPOs program. The decree includes the pricing method of the shares of listed companies intending to offer additional stakes. The offer price for state-owned companies that will sell additional stakes on the EGX will be set within 10% of the trailing market average under the decree.
The government has recently announced floating a further 4.5% stake in Eastern Co. (EAST) on the Egyptian Exchange.
NI Capital, the consultant of the state-run IPOs, has picked up the leading investment bank EFG Hermes to manage Egypts monopoly cigarette makers additional offering.
Sources told Al Mal newspaper that other alternatives are being explored, in additional to those included in the ministerial decree as the market price of share has recently declined, which would affect flotation pricing.


Time Added: 2018-09-18 13:53:29
Source: arabfinance
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