Zulficar & Partners is proud to announce that it acted as the sole Egyptian legal counsel to the one-of-a-kind transaction involving the listing and trading of U Consumer Finance S.A.E. (“ValU”) on the Egyptian Exchange (“EGX”).
ValU is the leading consumer finance company in Egypt, valued at approximately 15.6 billion Egyptian pounds. This transaction marks the first time a consumer finance company goes public in Egypt, making it a significant milestone for the Egyptian capital market.
The listing was executed through an innovative and non-traditional structure: rather than a public offering, approximately 20.488% of ValU’s shares have been distributed to the shareholders of its parent company, EFG Holding S.A.E, as in-kind dividends. This was coupled with a complex legal and corporate restructuring. Following the successful completion of the restructuring and the share distribution, ValU started trading today on the EGX after satisfying all the legal and regulatory requirements for trading.
We are honored to have advised on this pioneering transaction and congratulate all stakeholders on this significant achievement.
The team was lead by Anwar Zeidan, Founding Partner and Head of Capital Markets Group, and included Reem Abu Zahra, Counsel, Capital Markets and M&A Groups; Tamima Yahia, Counsel in the Banking and Finance Group; Amr Meselhy, Senior Associate, Abdelrahman Fathy, Yomna Abu Hagar, Nahla El Kholy, Emad Diaa El Din, Farida Hassem, Mariam Mutawaa, Aya Badr and Sarah Ibrahim, Associates, Capital Markets and M & A Groups.
