CAIRO, July 21 (Reuters) - Egyptian digital payments companyFawry plans to list 36% of its shares on its domestic stockmarket, investment bank EFG Hermes said on Sunday.
The offering will include a private placement forinstitutional investors and an initial public offering (IPO) forretail investors in Egypt at the same price, said EFG Hermes,which is managing the sale.
The bank gave no indication on the expected offer price.
Fawry's managing director this month told Reuters thecompany had begun preparing for the IPO on the Egyptian Exchangeand that the process would be carried out in 2019 or early 2020.
Owned by local and foreign investment banks, Fawry wasfounded in 2009 and has about 8% of its shares in the hands ofmanagement and employees.
Fawry's network processed 600.1 million transactions lastyear with a total value of 34.2 billion Egyptian pounds ($2.1billion), EFG Hermes said in its statement.
The company made core profit of 152 million pounds in 2018,up 41.2% on the previous year.
The last IPO by a private company on the Egyptian Exchangewas finance solutions business Sarwa Capital last October.
($1 = 16.5600 Egyptian pounds)(Reporting by Ehab FaroukWriting by Yousef SabaEditing by David Goodman)