Gide has advised EFG Hermes Promoting and Underwriting on the Initial Public Offering and listing of Cairo for Investment and Real Estate Development S.A.E. ("CIRA") on the Egyptian Stock Exchange in October 2018, for an amount of EGP 1.2 billion.
EFG Hermes Promoting and Underwriting acted as sole global coordinator and bookrunner to the transaction. The IPO saw over 200 million shares issued in Egypt via a public offering and via private placement to institutional investors in several jurisdictions, including to qualified institutional buyers in the United States.
CIRA is the largest private education group in Egypt, catering predominantly for the primary, secondary and higher education markets. It is the market leader on the middle-income segment, offering affordable, premium education to Egypt's middle-class population.
Gide's team was led by Paris-based U.S. securities law partner Melinda Stege Arsouze, assisted by senior associate Scott Logan and associate Amine Assouad, in cooperation with Gide's Cairo office, in particular resident partner Baudouin de Moucheron and senior counsel Karim Wissa, as well as associate Omar Adel.