{"id":619310,"date":"2024-04-30T00:00:00","date_gmt":"2024-04-30T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/04\/30\/act-financial-to-create-a-big-financial-entity-through-merger-or-acquisition-following-ipo\/"},"modified":"2024-04-30T00:00:00","modified_gmt":"2024-04-30T00:00:00","slug":"act-financial-to-create-a-big-financial-entity-through-merger-or-acquisition-following-ipo","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/04\/30\/act-financial-to-create-a-big-financial-entity-through-merger-or-acquisition-following-ipo\/","title":{"rendered":"Act Financial to create \u201ca big financial entity\u201d through merger or acquisition following IPO"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>More details on Act Financial\u2019s upcoming IPO:<\/strong> Investment management firm Act Financial wants to either acquire or merge with another entity to create \u201ca big financial entity,\u201d after going public, CEO Bassem Azab told <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/article\/63162\/%D8%A3%D9%83%D8%AA-%D9%81%D9%8A%D9%86%D8%A7%D9%86%D8%B4%D8%A7%D9%84-%D8%AA%D8%A8%D8%AD%D8%AB-%D8%A7%D9%84%D8%AF%D9%85%D8%AC-%D8%A3%D9%88-%D8%A7%D9%84%D8%A7%D8%B3%D8%AA%D8%AD%D9%88%D8%A7%D8%B0-%D8%A8%D8%B9%D8%AF-%D8%B7%D8%B1%D8%AD-%D8%A3%D8%B3%D9%87%D9%85%D9%87%D8%A7-%D9%81%D9%8A-%D8%A8%D9%88%D8%B1%D8%B5%D8%A9-%D9%85%D8%B5%D8%B1\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. A number of Saudi and Emirati investors have already expressed interest in taking part in the transaction, he added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The company will list up to 30% of the company and bring in around EGP 1 bn<\/strong> when it goes ahead with its long-awaited initial public offering on the EGX within months, Azab added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI:<\/strong> The firm has secured regulatory approval for its IPO on the EGX <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/78190991-2ee3-4ed5-bcce-60e898351d57\/\" style=\"\" rel=\"noopener\">earlier this week<\/a>, and expects to start trading its shares within two months, with 75% of the offering set aside for institutional investors and the rest for retail investors. It will raise the whole amount through a capital increase, without the exit of any existing shareholders.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The advisors: <\/strong>Investment bank Zilla Capital and law firm Matouk Bassiouny have been tapped as consultants on the transaction.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Act Financial will offer up to 30% stake on the EGX via capital increase<\/p>\n","protected":false},"author":1,"featured_media":619311,"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":[543,68,72,78,7128,883,1474],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-619310","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-act-financial","tag-egx","tag-enterpriseam","tag-ipo-watch","tag-ma-watch","tag-matouk-bassiouny-hennawy","tag-zilla-capital","wpautop","entry"],"acf":{"mongo_id":"2d9528b7-c6dd-4871-a1c2-19c9589b6bfb","order":"5","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/4\/2135.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Act Financial to create \u201ca big financial entity\u201d through merger or acquisition following IPO","related_issue":[619303],"teaser":"Act Financial will offer up to 30% stake on the EGX via capital increase","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.0630cbf8-9fe6-4343-b1a1-a6b16e27d809.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 to create \u201ca big financial entity\u201d through merger or acquisition following IPO - 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\/04\/30\/act-financial-to-create-a-big-financial-entity-through-merger-or-acquisition-following-ipo\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta 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