{"id":547093,"date":"2022-06-08T04:21:08","date_gmt":"2022-06-08T04:21:08","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/08\/benya-to-sell-equity-stake-in-usd-150-mn-private-placement\/"},"modified":"2022-06-08T04:21:08","modified_gmt":"2022-06-08T04:21:08","slug":"benya-to-sell-equity-stake-in-usd-150-mn-private-placement","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/08\/benya-to-sell-equity-stake-in-usd-150-mn-private-placement\/","title":{"rendered":"Benya to sell equity stake in USD 150 mn private placement"},"content":{"rendered":"

<\/a> IT infrastructure contractor Benya Group is looking to raise USD 150 mn via a <\/strong>private placement before the end of 2Q2022<\/strong>, CEO Ahmed Mekky told CNBC Arabia<\/a> yesterday. The new capital would primarily go towards financing the company\u2019s expansion plans in Africa, he added.<\/p>\n

A group of investors have already expressed interest in participating<\/strong>, Mekky said, adding that the private placement is getting \u201cserious\u201d attention from international investment funds, including investors from the Gulf, without identifying them. Meetings with the potential investors are ongoing, he said. This comes after Benya\u2019s recently announced plans to set up an investment arm in Saudi Arabia<\/a> by the end of the year, marking its first expansion in the Gulf region.<\/p>\n

Round two will take place early next year: <\/strong>Benya is planning a second, larger capital increase at the beginning of 2023, Mekky said. This will happen ahead of the company\u2019s plans for a dual listing<\/a> on the EGX and a foreign bourse, he said, without disclosing further details. Benya in November said it would soon complete studies on a potential IPO in Egypt, after which it would decide on the second market and the timing of the offering.<\/p>\n

The Egyptian company has been pushing into Africa.<\/strong> Benya is currently awaiting a license to build and extend a telecom network in the Democratic Republic of the Congo; has applied for a separate license to set up a company to construct and operate shared mobile towers in the DRC; and has started working with contractors who will supply fiber cables as part of an ongoing USD 500 mn agreement<\/a> to set up a national fiber optic network in the country. The company also recently launched a USD 50 mn venture capital fund<\/a>, dubbed Benya Ventures, that will focus primarily on tech, IoT and AI startups in Africa.<\/p>\n","protected":false},"excerpt":{"rendered":"

IT infrastructure contractor Benya Group is looking to raise USD 150 mn via a private placement before the end of 2Q2022, CEO Ahmed Mekky told CNBC Arabia yesterday. The new capital would primarily go towards financing the company\u2019s expansion plans in Africa, he added. A group of investors have already expressed interest in participating, Mekky […]<\/p>\n","protected":false},"author":1,"featured_media":547094,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7363],"tags":[214,72,125,7128],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-547093","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-cit","tag-enterpriseam","tag-investment-watch","tag-ma-watch","wpautop","entry"],"acf":{"mongo_id":"dee0b178-0015-4990-83f7-a2f9e01b5f7b","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/6\/193.jpg","photo_position":"above","related_issue":[547081],"teaser":"","voice_url":""},"yoast_head":"\nBenya to sell equity stake in USD 150 mn private placement - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/08\/benya-to-sell-equity-stake-in-usd-150-mn-private-placement\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Benya to sell equity stake in USD 150 mn private placement\" \/>\n<meta property=\"og:description\" content=\"IT infrastructure contractor Benya Group is looking to raise USD 150 mn via a private placement before the end of 2Q2022, CEO Ahmed Mekky told CNBC Arabia yesterday. The new capital would primarily go towards financing the company\u2019s expansion plans in Africa, he added. A group of investors have already expressed interest in participating, Mekky […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/08\/benya-to-sell-equity-stake-in-usd-150-mn-private-placement\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-06-08T04:21:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/193.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/08\/benya-to-sell-equity-stake-in-usd-150-mn-private-placement\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/08\/benya-to-sell-equity-stake-in-usd-150-mn-private-placement\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Benya to sell equity stake in USD 150 mn private placement\",\"datePublished\":\"2022-06-08T04:21:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/08\/benya-to-sell-equity-stake-in-usd-150-mn-private-placement\/\"},\"wordCount\":310,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/08\/benya-to-sell-equity-stake-in-usd-150-mn-private-placement\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/193.jpg?fit=%2C&ssl=1\",\"keywords\":[\"CIT\",\"EnterpriseAM\",\"investment watch\",\"M&A Watch\"],\"articleSection\":[\"M&A WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/08\/benya-to-sell-equity-stake-in-usd-150-mn-private-placement\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/08\/benya-to-sell-equity-stake-in-usd-150-mn-private-placement\/\",\"name\":\"Benya to sell equity stake in USD 150 mn private placement - 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The move will mark Benya\u2019s first expansion in the Gulf region.The Egyptian company is also pushing into\u2026","rel":"","context":"In "Investment Watch"","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":555264,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/08\/benya-eyes-african-tech-startups-with-new-usd-50-mn-vc-fund\/","url_meta":{"origin":547093,"position":1},"title":"Benya eyes African tech startups with new USD 50 mn VC fund","author":"enterpriseam admin","date":"8 November 2021","format":false,"excerpt":"IT infrastructure contractor Benya Capital is launching a USD 50 mn venture capital fund, dubbed Benya Ventures, as part of its expansion strategy, Chairman and CEO Ahmed Mekky said on the sidelines of the Cairo ICT conference yesterday, according to Al Borsa. The VC, which will launch with an initial\u2026","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":547445,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/22\/usd-8-bn-from-ksa-and-much-morepossibly-usd-30-bn-more\/","url_meta":{"origin":547093,"position":2},"title":"USD 8 bn from KSA and much more\u2026Possibly USD 30 bn more.","author":"enterpriseam admin","date":"22 June 2022","format":false,"excerpt":"Egypt signed 14 investment agreements with Saudi Arabia worth USD 7.7 bn during Crown Prince Mohamed bin Salman\u2019s visit to Cairo yesterday, the Madbouly cabinet said in a statement yesterday. The agreements cover key sectors including energy, tech, food, and pharma and were signed during a meeting of Egyptian and\u2026","rel":"","context":"In "Investment Watch"","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/6\/268.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":555146,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/03\/benya-capital-studies-dual-listing\/","url_meta":{"origin":547093,"position":3},"title":"Benya Capital studies dual listing","author":"enterpriseam admin","date":"3 November 2021","format":false,"excerpt":"IT infrastructure contractor Benya Capital is considering a dual listing on the EGX and a foreign bourse, CEO Ahmed Mekky said, according to Hapi Journal. The company will soon complete studies on a potential IPO in Egypt, after which it will decide on the second market and the timing of\u2026","rel":"","context":"In "IPO"","block_context":{"text":"IPO","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":543552,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/07\/amer-groups-revolving-door-spins-on-benyas-ahmed-mekky-to-chair-fiber-connect-council\/","url_meta":{"origin":547093,"position":4},"title":"Amer Group\u2019s revolving door spins on + Benya\u2019s Ahmed Mekky to chair Fiber Connect Council","author":"enterpriseam admin","date":"7 February 2022","format":false,"excerpt":"Amer Group\u2019s fourth CEO in a year: Hosny Hany (LinkedIn) has been appointed CEO and managing director of Amer Group, succeeding Saad Rabie Al-Khabiry, who resigned, according to an EGX disclosure (pdf). Al-Khabiryheld the position for five months, just outlasting his predecessor Riad Refaat, who was in the role for\u2026","rel":"","context":"In "Moves"","block_context":{"text":"Moves","link":"https:\/\/enterpriseam.com\/egypt\/category\/newsmakers\/moves\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":577616,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/29\/social-ins-contributions-and-payouts-to-rise-in-the-new-year\/","url_meta":{"origin":547093,"position":5},"title":"Social ins contributions and payouts to rise in the new year","author":"enterpriseam admin","date":"29 November 2022","format":false,"excerpt":"Among the other stories we\u2019re paying attention to this morning:ECONOMY-Employees will pay more towards social ins. starting in January: The subscription wage used to calculate national ins. contributions for public and private sector workers will be raised to a minimum of EGP 1.7k and a maximum of EGP 10.9k as\u2026","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/477.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/547093","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=547093"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/547093\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/547081"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/547094"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=547093"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=547093"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=547093"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=547093"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=547093"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}