Bonyan mulls IPO: Compass Capital subsidiary Bonyan is reportedly planning to offer a USD 120 mn stake in an upcoming initial public offering on the EGX by year-end, Asharq Business reports, citing two unnamed sources with knowledge of the matter. Bonyan is set to list on the EGX this week in preparation for the IPO.

(Tap or click the headline above to read this story with all of the links to our background as well as external sources.)

Refresher: Bonyan’s real estate portfolio — which spans east and west Cairo — includes a project in Redcon Properties’ Golden Gate project in the Fifth Settlement, a mall in Sheikh Zayed, as well as six office buildings in New Cairo’s central business district. It is also the developer behind Sheikh Zayed’s Walk of Cairo.

It’s been pretty dry for the IPO market: Last year saw only a single company make its EGX debut, with Taqa Arabia listing 1.35 bn shares on the exchange in a technical listing rather than an IPO. No company has made its EGX debut since, but we’re days away from Act Financial making its long-awaited IPO on the bourse, offering some 32% of the company’s shares following a capital increase.

Advisors: CI Capital and Arqaam Capital will manage the offering.

Tags: