{"id":612083,"date":"2023-12-17T00:00:00","date_gmt":"2023-12-17T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/12\/17\/raya-it-has-its-eyes-on-an-ipo-next-year\/"},"modified":"2023-12-17T00:00:00","modified_gmt":"2023-12-17T00:00:00","slug":"raya-it-has-its-eyes-on-an-ipo-next-year","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/12\/17\/raya-it-has-its-eyes-on-an-ipo-next-year\/","title":{"rendered":"Raya IT has its eyes on an IPO next year"},"content":{"rendered":"

Good afternoon, ladies and gentlemen, and happy Sunday. <\/strong>Our week is getting off to a busy start here at home. <\/p>\n

THE BIG STORY TODAY<\/strong><\/p>\n

Raya IT to list on the EGX:<\/strong> Raya Holding plans to offer a 30-35% stake in its IT arm Raya Information Technology through an IPO that\u2019s set to kick off in 1H 2024, it said in a statement (pdf)<\/a>. The IPO will be managed by our friends at EFG Hermes.<\/p>\n

The plan has been in the making for some time: <\/strong>Local media reported<\/a> back in March 2022 that Raya Holding had consolidated it its IT businesses \u2014 by transferring<\/a> its ownership in Raya Network Services, Raya Network Power, Raya Data Center to a subsidiary that was at the time called Raya Systems \u2014 ahead of a plan to list its IT arm on the EGX or offer shares to new investors.<\/p>\n

THE BIG STORY ABROAD<\/strong><\/p>\n

It\u2019s a mixed bag of headlines in the international press this afternoon. <\/strong>Israel continues its rampage through Gaza, despite protests and calls for a ceasefire over the three Israeli hostages that were shot dead<\/a> by the IDF while holding makeshift white flags because they were thought to be Palestinian. According to an anonymous source, Israel\u2019s spy chief and Qatar\u2019s prime minister, who helped mediate the previous weeklong truce, held talks on Friday but no agreement was reached. Meanwhile communications are down for the fourth day in a row, the longest blackout since 7 October, making it virtually impossible for aid to reach those in need. (Reuters<\/a> | Bloomberg<\/a>)<\/p>\n

ON THE BUSINESS SIDE- <\/strong>Investors expecting interest rates to stay soaring will be harshly disappointed by the recent rally in global bond markets, reports the Financial Times<\/a>. Yields are low following the Fed\u2019s strongest indication that it wouldn\u2019t raise borrowing costs and would make 0.75 percentage points of cuts in 2024. The benchmark 10-year US treasury yield dipped 4%, a first since August, while the two-year yield reached its lowest since May.<\/p>\n

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COME WORK FOR OUR ADVISORY ARM- <\/strong>Enterprise Advisory (formerly known as Inktank Communications) is looking for smart, talented people to help us tell the stories of exciting companies. Enterprise Advisory is the region\u2019s leading investor relations advisory company and works on investor and strategic communications issues that take you deep inside the c-suite. Our clients are in Egypt, Saudi Arabia, the UAE, and beyond. Egyptian and foreign nationals alike are welcome to apply, but native-level verbal and written English fluency is a must.<\/p>\n

WHO YOU ARE-<\/strong> We're looking for gifted storytellers with a minimum of four years of work experience in investor relations, finance, banking, economics, or a related field to develop cutting-edge products and maintain relationships with a portfolio of clients. Candidates should have a bachelor's degree or higher in finance, accounting, economics, business administration, or a related discipline. We're looking for someone whose passion for storytelling is matched with strong analytical and problem-solving skills, as well as the ability to interpret and present financial data \u2014 with a keen eye for details and accuracy. <\/p>\n

INTERESTED IN APPLYING?<\/strong> To apply for the position, drop us a line at jobs@enterprisemea.com and mention \u201cEnterprise Advisory\u201d in your subject line. Please send a solid cover letter telling us a bit about who you are and why you\u2019re a good fit for our team. We want to see your CV, but the most important thing is a cover letter that makes us want to pick up the phone and give you a call.<\/p>\n

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