Government-owned e-payment company e-Finance has wrapped up its final valuation study and other necessary procedures, and could be ringing in its IPO in H2 of 2021.

According to chairman Ibrahim Sarhan, they are currently now awaiting the approval of the government committee managing the state privatization program.

Originally expected to complete its listing at the end of 2019, then expected to ring the bell in Q1 or Q2 of 2021 after the government’s decision to push all state IPOs to 2021, a fair value report that was supposed to be completed late January was delayed, pushing the IPO further into the year.

Sarhan stressed that the postponement was due to the difficult conditions in public markets due to the pandemic and as they waited for signs of recovery, and that things are now returning back to normal.

Interested in knowing more, try this > Egypt Sovereign Fund negotiating for bigger stake in E-Finance

He also added that e-Finance will be boosting investments in 3 projects.

E-Tax, a JV between E-Finance, the Egyptian International Trade Point Sector (EITP), and the Finance Ministry, will be their first focus, aiming to set it up to provide tech services and solutions to companies and authorities as Egypt’s new e-tax system continues to gain steam. The JV is said to be worth LE100 million.

E-Finance’s second target will include gaining a license to provide e-signature services from the MCIT’s Information Technology Industry Development Authority (ITIDA).

Read more on the licenses here > ITIDA to boost Egypt’s digital transformation through new e-signature licenses

E-Finance will also focus on building and operating an electronic ticketing system for Egypt’s railway at an initial investment cost of LE230 million.

This year has a lot of movement towards the Egyptian Exchange, with e-Finance’s debut to the exchange part of a group of new listings after a long period of inactivity.