{"id":640339,"date":"2024-08-25T00:00:00","date_gmt":"2024-08-25T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/08\/25\/bonyan-to-head-to-ksa-uae-to-promote-upcoming-ipo\/"},"modified":"2024-08-25T00:00:00","modified_gmt":"2024-08-25T00:00:00","slug":"bonyan-to-head-to-ksa-uae-to-promote-upcoming-ipo","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/08\/25\/bonyan-to-head-to-ksa-uae-to-promote-upcoming-ipo\/","title":{"rendered":"Bonyan to head to KSA, UAE to promote upcoming IPO"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, folks.<\/strong> After a pretty busy start to the month for local business news, the last week of the month is off to an unusually calm start. In today\u2019s unusually cabinet-heavy of EnterpriseAM Egypt, we\u2019ve got a rundown of the EU funds and renewable projects just greenlit by the cabinet, new energy targets and tax plans courtesy of Madbouly\u2019s latest presser, and much more.<\/p>\n<p class=\"tag-border-left\">WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt1\"><\/a> <strong>#1- Bonyan is one step closer to its IPO: <\/strong>Compass Capital real estate subsidiary <a target=\"_blank\" href=\"https:\/\/www.bonyaneg.com\/about-us\/\" style=\"\" rel=\"noopener\">Bonyan<\/a>&nbsp;is planning to hold roadshows next month to promote its upcoming IPO on the EGX, <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/08\/25\/1820220\" style=\"\" rel=\"noopener\">Al Borsa<\/a> reports, citing anonymous sources. The roadshows, which will be conducted by Bonyan\u2019s IPO managers CI Capital and Arqaam Capital, will reportedly be launched in a number of countries including Saudi Arabia and the UAE.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A larger IPO than expected?<\/strong> Bonyan plans to raise some EGP 7-8 bn by IPOing before the end of the year, the outlet reports. It had been reported last month that Bonyan is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f7a5f07e-8e09-428c-b1ae-7f1bdf809daa\/compass-capital%25e2%2580%2599s-bonyan-mulls-ipo\" style=\"\" rel=\"noopener\">planning to offer<\/a> a USD 120 mn (EGP 5.8 bn) stake in the upcoming initial public offering.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>New legal crew on board:<\/strong> Bonyan has reportedly tapped Matouk Bassiouny &amp; Hennawy as legal counsel.<\/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\"><a id=\"wwtt2\"><\/a><strong> #2- <\/strong><strong>The ministerial group for industrial development will soon review its definition of what<\/strong><strong> constitutes a small project<\/strong>, with the maximum revenue limit under the SMEs Act set to be increased to align with the current exchange rate, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0yS7YgPZqc5t6iYBD4cfXv61UHteLW7mMiK2LP9kV1oKf7k4JiJXaPmEdnwHd36Upl\" style=\"\" rel=\"noopener\">statement<\/a> from the ministerial group. The current annual revenue or sales cap for an operation to be classified as a small project is set at EGP 50 mn, while its minimum is EGP 1 mn.<\/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 class=\"tag-border-left\">CIRCLE YOUR CALENDAR- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>East Port Said cargo terminal #2 will go live in<\/strong><strong> 2Q 2025<\/strong>, the SCZone said in a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0C9PhTpgWThamcSaW8ZdbUiSU3cJKCQtMpMTCcGZkGn3QoVDTvCPevNW8uRcEUB7Pl\" style=\"\" rel=\"noopener\">statement<\/a>. Under the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e1acdd58-f51f-4c99-bc21-f956655ee3ed\/a-deep-dive-into-the-new-cabinet%25e2%2580%2599s-new-transport-and-logistics-infrastructure-strategy\" style=\"\" rel=\"noopener\">new cabinet\u2019s infrastructure plan<\/a> for the next three years, East Port Said Port is set to see its present capacity of some 3.8 mn export and import containers increase to 4.8 mn containers by the end of the current fiscal year and 5.3 mn containers by 2030. The port\u2019s capacity for transit containers is also lined up to top 5 mn by 2030. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/\" style=\"\" rel=\"noopener\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n<p class=\"tag-border-left\">PSA-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- It\u2019s a sunny day in Cairo today<\/strong>, with a high of 35\u00b0C and a low of 26\u00b0C, according to our favorite weather app.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s almost as hot in Alexandria and along the North Coast<\/strong>, with a high of 33\u00b0C and a low of 24\u00b0C.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** DID YOU KNOW that we now cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a><\/strong><strong> and the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">UAE<\/a><\/strong><strong>?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Were you forwarded this email?<\/strong> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy delivered every weekday before 7am Cairo time \u2014 without charge.<\/p>\n<p class=\"tag-border-left\">DATA POINT- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>Some 41.8 mn Egyptians were banked in June 2024<\/strong> \u2014 with bank, Egypt Post accounts, mobile wallets, or prepaid cards \u2014 representing 71.5% of eligible citizens, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/2072.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a> from the Central Bank of Egypt. Financial inclusion in June was up 181% since 2016.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a href=\"http:\/\/finance2024.enterprise.news\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1907.jpg?ssl=1\"><\/a> <\/p>\n<p class=\"tag-border-left\">RED SEA WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Houthi attack on oil tanker risks regional ecological disaster: <\/strong>Yemen\u2019s Houthis on Wednesday <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/7f886279-fecb-4410-b402-fbf85b9411b1\" style=\"\" rel=\"noopener\">blew up<\/a> a passing Greek-owned oil tanker carrying 150k tonnes of crude oil in the Red Sea. The armed group said in a statement <a target=\"_blank\" href=\"https:\/\/x.com\/MMY1444\/status\/1827071898548572318\" style=\"\" rel=\"noopener\">announcing the attack<\/a> that the company that operates the boat had \u201cviolated\u201d the \u201cYemeni Armed Forces\u2019 ban on entering the occupied Palestinian ports.\u201d Although the crew of <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/red-sea-attack-sounion-eu-yemen-houthi-rebels-9248d3c71e637d771715da7a6a9bfcce\" style=\"\" rel=\"noopener\">29 mariners were rescued<\/a> from the vessel \u2014 dubbed Sounion \u2014 on Thursday after it initially caught fire following attacks, the EU\u2019s naval operation in the region <a target=\"_blank\" href=\"https:\/\/x.com\/EUNAVFORASPIDES\/status\/1827404806333284735\" style=\"\" rel=\"noopener\">warned<\/a> that oil from the ship could lead to a \u201csevere ecological disaster with potentially devastating effects on the region\u2019s biodiversity.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This is more bad news for our Suez Canal transit receipts<\/strong>, which fell 23.4% y-o-y in the previous fiscal year to USD 7.2 bn on the back of Houthi attacks pushing shipping companies to reroute around the Cape of Good Hope for the foreseeable future.<\/p>\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>As is often the case on Sundays, it\u2019s relatively quiet in the international business press<\/strong>, but NASA choosing Elon Musk\u2019s SpaceX to bring back two of its astronauts at the International Space Station (ISS) is making the rounds. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The US space agency decided to bring Boeing\u2019s Starliner capsule back to earth without<\/strong><strong> its two crew members<\/strong>, NASA boss Bill Nelson <a target=\"_blank\" href=\"https:\/\/www.nasa.gov\/news-release\/nasa-decides-to-bring-starliner-spacecraft-back-to-earth-without-crew\/\" style=\"\" rel=\"noopener\">said yesterday<\/a>, after the Starliner saw technical failures that resulted in the two astronauts being stuck in space for months longer than expected. The astronauts will now remain on the ISS until late September, at which point they will board a SpaceX capsule with two other astronauts. The SpaceX spacecraft will be starting a six-month mission, meaning the stranded astronauts will return to Earth in February. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/science\/boeings-new-starliner-set-first-crewed-flight-space-station-2024-05-06\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-08-24\/spacex-selected-by-nasa-to-rescue-astronauts-marooned-in-space\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/science\/space-astronomy\/nasa-taps-spacex-to-return-starliner-astronauts-dealing-blow-to-boeing-0d267d07\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/d3251062-701e-495f-a0a6-a5917254ec62\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/technology\/2024\/08\/24\/starliner-boeing-spacex-nasa\/\" style=\"\" rel=\"noopener\">Washington Post<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/08\/24\/nasa-boeing-starliner-decision-return-empty-spacex-astronauts-iss.html\" style=\"\" rel=\"noopener\">CNBC<\/a>) <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning, folks. After a pretty busy start to the month for local business news, the last week of the month is off to an unusually calm start. In today\u2019s unusually cabinet-heavy of EnterpriseAM Egypt, we\u2019ve got a rundown of the EU funds and renewable projects just greenlit by the cabinet, new energy targets and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[7204],"tags":[8298,72,1260],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-640339","post","type-post","status-publish","format-standard","hentry","category-what-were-tracking-today","tag-bonyan","tag-enterpriseam","tag-mena-ipos","wpautop","entry"],"acf":{"mongo_id":"eda8ad63-7ca6-4c5c-9bff-fe58aea5d39e","order":"2","is_powered_by":true,"story_type":"4","photo_url":"","photo_position":"above","homepage_title":"","full_issue_title":"Bonyan to head to KSA, UAE to promote upcoming IPO","related_issue":[640337],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/8\/.d1c970aa-19cd-4855-a93b-9303ded800fd.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>Bonyan to head to KSA, UAE to promote upcoming 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\/08\/25\/bonyan-to-head-to-ksa-uae-to-promote-upcoming-ipo\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bonyan to head to KSA, UAE to promote upcoming IPO\" \/>\n<meta property=\"og:description\" content=\"Good morning, folks. After a pretty busy start to the month for local business news, the last week of the month is off to an unusually calm start. 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