After its IPO last week, state-owned fintech and payments giant e-finance (EIFH), who announced its indicative price range at the beginning of the month, is looking to list two of its subsidiaries, Khales, and e-Cards, Chairman Ibrahim Sarhan told Al Mal.
The company is looking to spin-off its Khales subsidiary ahead of a potential offering on EGX, Sarhan reportedly said. Khales itself will split into e-Retail and e-Hub. Al Mal quotes Sarhan as saying the company could consider a dual listing at some point in the future.
e-finance Investment Group was founded in 2005 with the purpose of operating the Government of Egypt’s financial network. It is the sole entity authorized exclusively to process and settle Government payment and collection transactions and is the state’s digital partner of choice, with a dynamic business model covering the entire digital payments ecosystem.
Sarhan has made the announcement just under a week after e-Finance raised EGP 5.8 billion in its IPO.
The IPO of e-finance for Digital and Financial Investments (EFIH) has achieved expectations as the largest offering Egypt has witnessed since 2015.
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