{"id":549436,"date":"2022-09-18T04:00:55","date_gmt":"2022-09-18T04:00:55","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/18\/act-financial-plans-to-ipo-in-the-new-year\/"},"modified":"2022-09-18T04:00:55","modified_gmt":"2022-09-18T04:00:55","slug":"act-financial-plans-to-ipo-in-the-new-year","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/18\/act-financial-plans-to-ipo-in-the-new-year\/","title":{"rendered":"Act Financial plans to IPO in the new year"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong><a href=\"https:\/\/act-fin.com\/\">Act Financial<\/a><\/strong><strong> aims to offer <\/strong><strong>up to a 40% stake<\/strong><strong> on the EGX by early 2023<\/strong>, Managing Partner and Co-Founder <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/de87c4ef-20c4-49be-80ad-a4777bf1455a\">Mostafa Abdel Aziz<\/a> tells Enterprise.<\/p>\n<p><strong>Financial advisors TBA:<\/strong> Act Financial has appointed Matouk Bassiouny & Hennawy as its legal counsel and is still in talks with financial advisors for the offering, Abdel Aziz said.<\/p>\n<p><strong>2023 is looking better than 2022 right now:<\/strong> Several companies have postponed plans to debut on the EGX this year due to market volatility. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/004a2209-c482-4067-af0e-5ba87566e2d4\">Banque du Caire<\/a> and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6bafb238-9ada-4c08-9846-30e51c6203ef\">Aman<\/a> said in July they had pressed pause on their IPOs in July and will wait until conditions improve before moving forward with share sales.<\/p>\n<p><strong>Acquisition plans:<\/strong> Act Financial intends to increase its stakes in listed companies to between 5% and 20% and diversify its investments across various sectors. It will increase its direct investment and co-investment portfolio threefold from EGP 1.5 bn to EGP 4-4.5 bn by 2024, by increasing current stakes and working with Gulf investors on new buys, Abdel Aziz said. Act Financial currently owns stakes in four EGX-listed companies in the industrial and pharma sectors, and targets holdings of 5-20% in listed firms, he added.<\/p>\n<p><strong>SME and real estate funds in the pipeline: <\/strong>Act Financial is planning to launch an SME fund with an initial capital of EGP 1 bn, Abdel Aziz said. The fund will focus on food, logistics, and healthcare firms in the short term, before branching out to other sectors. A real estate investment fund will follow at a later stage with an initial capital of EGP 2 bn, he added.<\/p>\n<p><strong>Act was heavily in the news in the second half of 2020 and into 2021 <\/strong>as it <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/86a691ec-ec8f-41f7-8785-deb2b8f4c0be\">bought deep into SODIC<\/a>, exiting when Aldar and ADQ acquired the upmarket realtor.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Act Financial aims to offer up to a 40% stake on the EGX by early 2023, Managing Partner and Co-Founder Mostafa Abdel Aziz tells Enterprise. Financial advisors TBA: Act Financial has appointed Matouk Bassiouny &#038; Hennawy as its legal counsel and is still in talks with financial advisors for the offering, Abdel Aziz said. 2023 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":549437,"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":[7224],"tags":[543,68,72,78],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-549436","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-act-financial","tag-egx","tag-enterpriseam","tag-ipo-watch","wpautop","entry"],"acf":{"mongo_id":"0508ea6b-bb74-47c6-af38-d9447377b4fe","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/9\/251.jpg","photo_position":"above","related_issue":[549426],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Act Financial plans to IPO in the new year - 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\/09\/18\/act-financial-plans-to-ipo-in-the-new-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Act Financial plans to IPO in the new year\" \/>\n<meta property=\"og:description\" content=\"Act Financial aims to offer up to a 40% stake on the EGX by early 2023, Managing Partner and Co-Founder Mostafa Abdel Aziz tells Enterprise. Financial advisors TBA: Act Financial has appointed Matouk Bassiouny &amp; Hennawy as its legal counsel and is still in talks with financial advisors for the offering, Abdel Aziz said. 2023 [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/18\/act-financial-plans-to-ipo-in-the-new-year\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-18T04:00:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/251.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=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/18\/act-financial-plans-to-ipo-in-the-new-year\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/18\/act-financial-plans-to-ipo-in-the-new-year\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Act Financial plans to IPO in the new year\",\"datePublished\":\"2022-09-18T04:00:55+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/18\/act-financial-plans-to-ipo-in-the-new-year\/\"},\"wordCount\":286,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/18\/act-financial-plans-to-ipo-in-the-new-year\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/251.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Act Financial\",\"EGX\",\"EnterpriseAM\",\"IPO watch\"],\"articleSection\":[\"IPO\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/18\/act-financial-plans-to-ipo-in-the-new-year\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/18\/act-financial-plans-to-ipo-in-the-new-year\/\",\"name\":\"Act Financial plans to IPO in the new year - 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