Enter, BONY.CA. Real estate investment firm Bonyan has secured approval from the EGX’s listing committee to list its shares on the EGX under the ticker symbol BONY.CA, according to a company statement (pdf). The Compass subsidiary is gearing up for its EGX debut in the first half of 2025, a longer window than unconfirmed reports earlier this month that pencilled in 1Q 2025.

The IPO could be one of the largest listings in EGX history, with the real estate investment firm aiming to raise USD 120-150 mn (EGP 6-8 bn), according to previous reports. No details have yet been revealed about the percentage to be offered.

This is the first time Egypt will see a real estate operating company go public, which in turn will be able to offer investors on the exchange “exposure to capital appreciation and rental yield,” said Bonyan Executive Chairman Shamel Aboul Fadl.

ADVISORS- CI Capital and Arqaam Capital are acting as joint global coordinates and bookrunners, while Mubasher is serving as the placement agent, and Matouk Bassiouny & Hennawy is offering legal counsel.

Tags: