Britain’s Issa Brothers Looking Into $14 Billion IPO In The U.S. [Forbes]
ASHTED GRP PLC UNSP/ADR (ASHTY)
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Source: Forbes
Mohsin and Zuber Issa are reportedly laying the groundwork for an initial public offering of EG Group in the U.S. for as much as $14.3 billion (£13 billion). EG is said to be in the process of lining up banks for a possible listing in 2025, according to reports in Mergermarket and The Telegraph Although the IPO is still in its early stages, EG's market value could reach $14.3 billion, which equates to 13 times its underlying earnings of $1.1 billion in 2023. The company's global operations generated $28.3 billion in revenue last year. By selling a portion of their stakes to outside investors, the Issa brothers and fellow co-owner TDR Capital could be in line for a considerable windfall. EG declined to comment on the reports. The IPO would deal yet another blow to the Lo
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