Back to the complete issue
Wednesday, 23 September 2020

Raya mulls listing Aman on EGX in 2021

IPO WATCH- Raya mulls listing Aman on EGX in 2021: Raya Holding could debut its non-banking financial service business outfit Aman Holding on the EGX in 2021, Raya’s CFO Hossam Hussein told Al Mal, without disclosed the size of the potential offering. Raya is still considering its options for the listing, which could include floating existing shares, raising new capital or a mix of the two.

The exact details of the IPO will be worked out after the National Bank of Egypt (NBE) closes its acquisition of 20-25% of Aman, Hussein said. The NBE is currently conducting due diligence on Aman before it makes a final offer. The bank tapped Grant Thoronton earlier in September as its financial advisor on the transaction, working alongside Matouk Bassiouny & Hennawy as legal counsel.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.