AUF announced that it has selected financial group EFG Hermes as an advisor for the offering on EGX
Healthy food provider Abu Auf’s parent company, AUF, could be going public on the Egyptian Exchange (EGX) by Q2 next year, possibly listing around 49% of its shares to fund regional expansion plans.
AUF announced that it has selected financial group EFG Hermes as an advisor for the offering on EGX, due it being one of the largest stock brokerage companies in the Middle East and North African markets, as well as emerging and frontier markets around the world.
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Abu Auf is one of the largest companies specialized in providing healthy food products and nuts, with over 180 branches in Egypt distributing to 10 governorates through its 1000+ warehouses.
The company recently expanded into coffee, where it launched a coffee production facility to serve both domestic and export demand.
The brand exports to major global markets including the United States of America, England, Belgium, Germany, as well as Kuwait and the UAE.
Until then, EGX and IPO watchers can keep an eye out for Egypt’s e-finance for Digital and Financial Investments upcoming IPO which is set to go live in Q4 2021.
