Aman Holding wants to IPO

Raya subsidiary Aman Holding is eyeing an IPO in the coming two years, by which time it hopes to have captured more market share, Al Mal reports, citing unnamed sources. The news comes after the National Bank of Egypt’s acquisition of a 24% stake in Aman last week. Aman also plans to double its capital to EGP 750 mn with the proceeds earmarked to fuel growth of its subsidiaries — Aman Financial Services, Aman E-Payments, and Aman Microfinance — as it adds points of sale and branches while growing its microfinance portfolio.