Cairo –  Act Financial is planning to acquire stakes in real estate, healthcare, and logistics companies, Managing Partner Mostafa Abdelaziz told Mubasher in an interview.

The company is finalising procedures for an initial public offering (IPO) on the Egyptian Exchange (EGX), Abdelaziz revealed.

Act Financial is conducting promotional campaigns for the IPO in Egypt and GCC markets, particularly Saudi Arabia and the UAE, through offering manager Zilla Capital, he added.

The Managing Partner stated that the company is holding meetings with institutions in these markets.

Abdelaziz expects the IPO to generate EGP 1 billion, which will be used to increase the company's capital.

In June 2024, MubasherTrade Research set the the fair value (FV) of Act Financial at a range between EGP 3.44 per share to EGP 6.69 per share.

The company is planning to offer around 32% of its shares on the EGX, issuing 360 million shares, of which 300 million shares will be allocated to institutional and qualified investors, while the remaining 60 million shares will be directed to the public offering.

Translated by Muhammad Khalid

All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (Syndigate.info).