Zulficar & Partners with TAQA Arabia on its Egyptian Exchange listing

Zulficar & Partners Law Firm has acted as the legal advisor to Taqa Arabia (the “Company”) in the listing and trading of the Egyptian Exchange- EGX.

The Company is one of Egypt’s 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.

TAQA Arabia is one of Egypt’s main private sector energy distribution company with more than 20 years’ of experience investing in and operating energy infrastructure including gas transmission and distribution, power generation and distribution and marketing of petroleum products.

Zulficar& Partners’s team was headed by Anwar Zeidan (pictured), Founding Partner and Head of Capital Markets Group, and included Hegui Taha, Nour El- Deen Al- Senawy, Omar Hafez, Mohamed Okasha, Lamia Marei, Mohamed Maher, Reem Abu Zahra, Amr Meselhy, Inji El Charkawi, Nahla Elkholy, Hana El Beltagi, Abdel Rahman Fathy, Salma Talaat, Ahmed El Gharabawi and Youmna Ahmed Hagar.