Zulficar & Partners Law Firm is pleased to announce that it has acted as the legal advisor to TAQA Arabia S.A.E (the “Company”) in the listing and trading of its share capital on the Egyptian Exchange – EGX.
The Company is one of Egypt’s leading privately-owned companies operating in the field of energy owning 22 subsidiaries in Egypt and 14 others abroad operating in gas, electricity, oil and water desalination.
The fair value of the share was estimated to be EGP 8.9 per share, with a total value of the Company’s shares of approximately EGP 12,035,948,820 based on an independent financial advisor report. The Company was directly admitted to trading after meeting the legal requirements of EGX regulations with respect to the minimum number of shareholders, the free float percentage and the EGX conditions on the shareholding structure. The listing and trading are accompanied by a major restructuring of the majority shareholder.
The Z&P team was headed by Anwar Zeidan, Founding Partner and Head of Capital Markets Group and includes Hegui Taha (Former Partner), Nour El-Deen Al-Senawy, Omar Hafez (former counsel), Dr. Mohamed Okasha, Lamia Marei, Mohamed Maher, Reem Abu Zahra, Amr Meselhy, Inji El Charkawi, Nahla Elkholy, Hana El Beltagi, Abdel Rahman Fathy, Salma Talaat and Youmna Ahmed Hagar.
