{"id":617525,"date":"2024-03-24T00:00:00","date_gmt":"2024-03-24T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/24\/act-financial-eyes-ipo-in-2q-2024\/"},"modified":"2024-03-24T00:00:00","modified_gmt":"2024-03-24T00:00:00","slug":"act-financial-eyes-ipo-in-2q-2024","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/24\/act-financial-eyes-ipo-in-2q-2024\/","title":{"rendered":"Act Financial eyes IPO in 2Q 2024"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Act Financial\u2019s long-awaited IPO approaching?<font face=\"Arial\">&nbsp;<\/font><\/strong>Investment management firm <a target=\"_blank\" href=\"https:\/\/act-fin.com\/\" style=\"\" rel=\"noopener\">Act Financial<\/a> is working to IPO on the EGX in 2Q 2024, Al Mal reports, citing sources it says have knowledge of the matter. The company reportedly filed a request with the relevant regulatory authorities days ago. It is currently in talks with a number of investment banks over the management of the IPO and is poised to select a consultant within days.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Act Financial had initially <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0508ea6b-bb74-47c6-af38-d9447377b4fe\/act-financial-plans-to-ipo-in-the-new-year\" style=\"\" rel=\"noopener\">planned<\/a> to offer up to a 40% stake on the EGX by early 2023, Managing Partner and Co-Founder Mostafa Abdel Aziz told Enterprise back in September 2022.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Transaction size TBD: <\/strong>The company is still looking into the exact size of the stake to put up for grabs. The transaction value, which will depend on the targeted capital increase, will reportedly be \u201clarge\u201d.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>All part of an ambitious expansion plan: <\/strong>Last time we spoke with Abdel Aziz, he said that Act Financial also had plans to acquire 5-20% in some EGX-listed companies, diversify its investments across various sectors, and launch SME and real estate investment funds with initial capital of EGP 1 bn and EGP 2 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>2023 was a dry year for the IPO market:<\/strong> Last year saw a single company make its EGX debut, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/41d67e8b-4427-475c-b038-6a7b19bbba31\/egx-voids-taqa-arabia-debut-following-83,000%2525-price-surge\" style=\"\" rel=\"noopener\">Taqa Arabia started trading on the EGX in July 2023<\/a> \u2014 in a technica<font face=\"Arial\">l<\/font> listing, not an IPO \u2014 listing 1.35 bn shares on the exchange.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But we\u2019re expecting a couple of IPOs this year: <\/strong>The developer of the new administrative capital Administrative Capital for Urban Development <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/621b0392-bb53-40e1-b530-5b8522acfbce\/acud-could-raise-more-than-egp-150-bn-from-its-planned-egx-ipo\" style=\"\" rel=\"noopener\">is set to be ready for listing by 2Q 2024<\/a> and aims to raise over EGP 150 bn from listing 5-10% of its shares in one of the EGX\u2019s largest ever transactions. Meanwhile, Raya Holding <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4828da19-8d9b-4a74-a0c3-28dac99c0258\/raya-it-aims-to-make-egx-debut-next-year\" style=\"\" rel=\"noopener\">plans to offer 30-35% of its IT arm Raya Information Technology<\/a> on the EGX in 1H 2024.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company could tap a consultant for its long-awaited IPO within days<\/p>\n","protected":false},"author":1,"featured_media":617526,"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":[543,72,78],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-617525","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-act-financial","tag-enterpriseam","tag-ipo-watch","wpautop","entry"],"acf":{"mongo_id":"195963b1-4574-44d3-8a2c-ceec25daaaf8","order":"0","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/3\/350.jpg","photo_position":"above","homepage_title":"Act Financial eyes IPO in 2Q 2024","full_issue_title":"Act Financial eyes IPO in 2Q 2024","related_issue":[617514],"teaser":"The company could tap a consultant for its long-awaited IPO within days","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/3\/.d0d7f785-f299-45cf-bae4-053f1cdf4a3b.mp3"},"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 eyes IPO in 2Q 2024 - 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\/2024\/03\/24\/act-financial-eyes-ipo-in-2q-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Act Financial eyes IPO in 2Q 2024\" \/>\n<meta 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