Egypt’s Mo’men aims for IPO in 2012

Egyptian fast food restaurant chain operator Mo'men Group aims to launch an IPO in 2012. "We are working on expanding our chains inside and outside Egypt, and increasing our investment and production capacity... so that the offer (of shares) on the stock exchange will be big when the decision is made," Chairman Mohammad Mo'men said. The group, which has over 40 outlets in Egypt, has investments in restaurants, production and transportation vehicles of around EP250 million (Dh165m) ($45 million), Mo'men said. Saudi Arabia, Kuwait and the UAE are among the markets in which the group is eyeing acquisitions, Mo'men said.