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IPOs and EGX Listings

Raya Holding to launch IPO for its IT arm in H1 2024

Raya Holding intends to make available a portion of the shares of Raya Information Technology, ranging from 30% to 35%, to potential investors

Raya Holding acquires 27.69% stake in Ostool Transport

After the successful closure of this acquisition, Raya Holding will own 90% of Ostool’s capital according to its Egyptian Exchange (EGX) disclosure

B Investments’ BoD approves share swap details for Orascom Financial Holding acquisition

Announced in June, the update on the acquisition comes after the BoD received and accepted a report by BDO for Financial Consulting regarding the fair value of B Investments’ share price and the share swap ratio

Administrative Capital for Urban Development achieves EGP 10B in profits

He added that ACUD will announce partnership opportunities soon with the private sector to implement projects together in the Administrative Capital

Egypt aims to raise EGP 70B through IPOs in FY2023/2024 | IDSC

The government is working on implementing a well-defined IPO program for government offerings, it explained, with plans to have 35 companies go public or stakes sold to strategic investors by the first half of 2024