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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.

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