Amer Group to launch IPO & Private Placement

Egypt’s Amer Group to launch IPO, private placement

CAIRO Private Placement (Reuters) – Egyptian real estate company Amer Group expects to raise 1.14 billion Egyptian pounds through an initial public offering and a private placement before the end of the month, its IPO adviser said on Saturday.

The company expects to raise 930 million pounds through the private placement and 220 million pounds through the public share offer, Alaa Sabaa, chairman of Beltone Financial said at an investor conference on the IPO.

“The total of the offering is 1.14 billion pounds,” Sabaa said. “We expect the private placement offering to close around November 21, the public offering to close on November 24, and share-dealing to start on the exchange on November 29.” He said final dates and details would be announced next week.

Sabaa said the share prices for the private placement PPM and public offerings would be the same.

The chairman of Amer Group, Mansour Amer, said “the private offer is between 2.6 and 3.6 pounds per share but the final value for the public offer will be announced around November 20.”

Amer said the cash raised would be used to speed up completion of the company’s various projects.

“Most of the market delivers within four years, we deliver within two,” Amer said. “If we succeed with (the IPO, private placement) we can deliver within a year using the capital increase.”

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

“This is a good time to launch an IPO because there is demand for Egyptian investments,” Sabaa said. “There are not many other IPOs in the Arab region … this is a good time to meet demand in our region.”

A newspaper earlier this week reported that Amer expected to raise $300 million through the IPO and private placement.

Amer Group sells holiday homes on Egypt’s coasts and elsewhere. One of its projects is Golf Porto, covering 2.2 million square metres in the mountainous Ain el-Sokhna area by the Red Sea coast.

The group also owns hotels, restaurants, malls, a catering firm, a utilities company and other businesses.

About PPM

PPM is the leading U.S. entrepreneurial firm that specializes in writing private placement memorandums (PPM) and linking investors with entrepreneurs.

Since 1999, the founders of PPM have provided professional business writing services, such as a PPM or business plan, to more than 2,000 businesses worldwide. Our company is considered to be the most cost effective, efficient consultants for private placement memorandum development in the United States. We are Wall Street’s, and by extension, the New York private placement (PPM) leaders.

PPM’s main service is the creation of private placement memorandum regulation d (Reg. d) documents. However, we offer much more. In case the entrepreneur needs additional services, such as a business plan, website, or additional legal work, PPM can create one pricing package for all required documentation or service. Because we simultaneously work with many companies both in and out of the U.S., the ability to adapt to the individual needs – as well as to regional and global demands – helps our clients save needed capital and time.

We are leaders in:

• New York Private Placement
Real Estate Private Placement
• Power Technology Private Placement
• Debt Private Placement
• Equity Private Placement
• Power Technology Private Placement Memorandum Writing
• New York Private Placement Memorandum Writing
Real Estate Private Placement Memorandum Writing
• Debt Private Placement Memorandum Writing