the private equity firm Helios Investment offers itself a juicy added value, following the Fawry IPO

(Agence Ecofin) - The recent partial exit of the private equity firm Helios Investment Partners, from the capital of Egypt's payment system company Fawry, is yet another proof of the strong profitability that can be gained from investing in fintech Africa.

254,6 millions of shares representing 36% of the capital of the Egyptian company, were sold on the Cairo financial market, through a series of private placements and an initial public offering, at the unit price of 6,46 Egyptian pounds.

Both initiatives were successful, with the IPO being subscribed for more than 30 times by investors, and private placements were underwritten by strong institutional investors, including Actis, another private equity giant in Africa.

In this context, the Egyptian company will be valued at 275 million. Recall that when Helios and two other investors had offered 85% of Fawry (including 40% for Helios) in 2015, the company was valued, at that time, at 100 $ million. It can therefore be expected that the sellers of the current operation will offer a substantial added value.

Fawry is positioned as a leading company in the payment services sector in Egypt. In addition to the direct gain on the partial sale of their shares, the consortium of transferors led by Helios investment offered Fawry an additional capital gain on the first day of listing. The company's stock jumped 31% on the Egyptian Exchange, reaching a valuation equivalent to $ 366!

Idriss Linen

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