{"id":628224,"date":"2024-07-01T00:00:00","date_gmt":"2024-07-01T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/07\/01\/act-financial-kicks-off-ipo-process-tomorrow\/"},"modified":"2024-07-01T00:00:00","modified_gmt":"2024-07-01T00:00:00","slug":"act-financial-kicks-off-ipo-process-tomorrow","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/07\/01\/act-financial-kicks-off-ipo-process-tomorrow\/","title":{"rendered":"Act Financial kicks off IPO process tomorrow"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good afternoon, friends, <\/strong>and welcome back to the grind after a long weekend. We hope you had a restful break.<\/p>\n<p class=\"tag-border-left\">THE BIG STORY TODAY- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Act Financial is kicking off its IPO procedures tomorrow <\/strong>in an event held alongside IPO manager Zilla Capital, the investment management firm said in an announcement seen by Enterprise.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> The company is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b9540e6d-8c1a-453f-9a7d-8ca7f28e78b3\/everything-you-need-to-know-about%253cmark%253e-act-financial%253c%2Fmark%253e-long-awaited-ipo-next-month\" style=\"\" rel=\"noopener\">offering<\/a> some 32% of the company\u2019s shares following a capital increase, with the subscription period for retail investors set to take place between 9-23 July, while institutional investors will get a chance to subscribe between 9-18 July.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The company has set the final IPO price at EGP 2.90 per share<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/78.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. Financial Advice Corporate Transactions (FACT) \u2014 the independent financial advisor to the transaction \u2014 set the fair value price at EGP 3.63 per share, down from the EGP 4.54 previously set as the fair value price, the statement read. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">THE BIG STORY ABROAD<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>French centrist and left-wing parties may band together to stop Le Pen\u2019s rise to power.<\/strong> President Emmanuel Macron\u2019s centrist Renaissance party and the left-wing New Popular Front are considering narrowing down their candidate pools to stifle far-right competition led by Marine Le Pen. The first round of voting wrapped up yesterday, showing Le Pen\u2019s National Rally leading with 33.2%, followed by the New Popular Front and Renaissance parties with 28% and 20.8%. The final round of voting will take place on Sunday, 7 July. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-07-01\/macron-and-french-left-wing-rivals-race-to-stop-far-right-rise?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a>)<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** CATCH UP QUICK<\/strong> on the top stories from today\u2019s <strong>EnterpriseAM:<\/strong><\/p>\n<ul>\n<li><strong>A flurry of fresh agreements with our EU partners: <\/strong>European firms <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b44bf694-9410-4f47-beea-46b32a2a5f11\/egypt-inks-eur-67.7-bn-worth-of-agreements-and-mous-at-egypt-eu-investment-conference\" style=\"\" rel=\"noopener\">inked a whole lot<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b44bf694-9410-4f47-beea-46b32a2a5f11\/egypt-inks-eur-67.7-bn-worth-of-agreements-and-mous-at-egypt-eu-investment-conference\" style=\"\" rel=\"noopener\">of agreements<\/a> with their Egyptian counterparts during the two-day <a target=\"_blank\" href=\"https:\/\/invegyeu.com\/\" style=\"\" rel=\"noopener\">Egypt-EU Investment Conference<\/a> that wrapped up yesterday.<\/li>\n<li><strong>We\u2019re getting EUR 1 bn from the EU before the end of the year:<\/strong> Egypt and the EU inked an agreement that <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c67f2ad8-4f77-49f0-a22b-1b1045c492dc\/egypt-is-in-line-for-fresh-funds-from-the-eu,-eib,-germany,-ebrd\" style=\"\" rel=\"noopener\">will disperse EUR 1 bn in macro-financial assistance<\/a> during the second half of 2024 \u2014 the first of two packages of concessional loans that will total some EUR 5 bn.<\/li>\n<li><strong>Egypt\u2019s net foreign assets recorded their first surplus in over two years,<\/strong> as the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4461a6ec-f67a-45d9-b396-b6b1f6533a35\/second-usd-20-bn-tranche-of%253cmark%253e-ras-el-hekma%253c%2Fmark%253e-funds-land-in-state-coffers\" style=\"\" rel=\"noopener\">second and final tranche<\/a> of the USD 35 bn Ras El Hekma agreement <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/05dbfb21-5b24-459c-8961-cd7efb29461b\/egypt%25e2%2580%2599s-net-foreign-assets-record-their-first-surplus-in-over-two-years\" style=\"\" rel=\"noopener\">brought in some USD 14 bn of fresh inflows<\/a> \u2014 USD 6 bn of which the central bank poured into the nation\u2019s banking sector.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u2600\ufe0f <\/strong><strong>TOMORROW\u2019S WEATHER- <\/strong>Another hot day with a high of 37\u00b0C and a low of 24\u00b0C in Cairo according to our favorite weather app. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good afternoon, friends, and welcome back to the grind after a long weekend. We hope you had a restful break. THE BIG STORY TODAY- Act Financial is kicking off its IPO procedures tomorrow in an event held alongside IPO manager Zilla Capital, the investment management firm said in an announcement seen by Enterprise. Remember: The [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":628225,"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":[7213],"tags":[543,68,633,634],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-628224","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-tonight","tag-act-financial","tag-egx","tag-enterprisepm","tag-what-were-tracking-tonight","wpautop","entry"],"acf":{"mongo_id":"e7191dcc-9378-45e3-9fe2-6a96d3ffcaeb","order":"1","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2023\/12\/1463.jpg","photo_position":"above","homepage_title":"","full_issue_title":"","related_issue":[628222],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.5aa0e186-5547-46eb-aea4-dffc0eaa8b81.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 kicks off IPO process tomorrow - 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\/07\/01\/act-financial-kicks-off-ipo-process-tomorrow\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Act Financial kicks off IPO process tomorrow\" \/>\n<meta property=\"og:description\" content=\"Good afternoon, friends, and welcome back to the grind after a long weekend. We hope you had a restful break. THE BIG STORY TODAY- Act Financial is kicking off its IPO procedures tomorrow in an event held alongside IPO manager Zilla Capital, the investment management firm said in an announcement seen by Enterprise. Remember: The [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/01\/act-financial-kicks-off-ipo-process-tomorrow\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-01T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1463.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\/2024\/07\/01\/act-financial-kicks-off-ipo-process-tomorrow\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/01\/act-financial-kicks-off-ipo-process-tomorrow\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Act Financial kicks off IPO process tomorrow\",\"datePublished\":\"2024-07-01T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/01\/act-financial-kicks-off-ipo-process-tomorrow\/\"},\"wordCount\":429,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/01\/act-financial-kicks-off-ipo-process-tomorrow\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1463.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Act Financial\",\"EGX\",\"EnterprisePM\",\"WHAT WE\u2019RE TRACKING TONIGHT\"],\"articleSection\":[\"WHAT WE\u2019RE TRACKING TONIGHT\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/01\/act-financial-kicks-off-ipo-process-tomorrow\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/01\/act-financial-kicks-off-ipo-process-tomorrow\/\",\"name\":\"Act Financial kicks off IPO process tomorrow - 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