Shearman & Sterling advised EFG Hermes Promoting and Underwriting, as sole global coordinator and bookrunner, in connection with the initial public offering and listing on the Egyptian Stock Exchange of Cleopatra Hospital Company S.A.E. ("Cleopatra Hospital"). The transaction was the second IPO on the Egyptian Stock Exchange in 2016.
Cleopatra Hospital is the largest private hospital group in Egypt both by number of hospital beds and operational hospitals. It operates four multi-specialty hospitals in Greater Cairo, Egypt – Cleopatra, Cairo Specialized Hospital, Nile Badrawi and Al Shorouk – that offer a full array of general and emergency healthcare services.
Following the IPO, Care Healthcare Limited ("Care Healthcare") will remain a majority shareholder of Cleopatra Hospital. Care Healthcare is beneficially owned by Abraaj NAH Limited, European Bank for Reconstruction and Development, DEG-Deutsche Investitions- und Entwicklungsgesellschaft mbH and Société de Promotion et de Participation pour la Coopération Economique S.A.. Abraaj NAH is owned by funds managed and controlled by The Abraaj Group, a Dubai-based private equity firm.