{"id":649378,"date":"2024-10-08T00:00:00","date_gmt":"2024-10-08T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/08\/another-ipo-in-the-works-for-2025\/"},"modified":"2024-10-08T00:00:00","modified_gmt":"2024-10-08T00:00:00","slug":"another-ipo-in-the-works-for-2025","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/08\/another-ipo-in-the-works-for-2025\/","title":{"rendered":"Another IPO in the works for 2025"},"content":{"rendered":"

Good afternoon, friends, and welcome to the second half of a shorter-than-usual workweek.<\/strong><\/p>\n

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THE BIG STORY TODAY<\/p>\n

The Smart Village Development and Management Company is planning to offer a 30-35%<\/strong> stake in an IPO on the EGX in 1H 2025<\/strong>, according to two separate disclosures by Naeem Holding and its real estate investment vehicle Reacap Investments (here<\/a> and here<\/a>). The offering is currently pending regulatory approval. <\/p>\n

What we know so far: <\/strong>The company aims to raise approximately EGP 2 bn from the upcoming IPO, with proceeds earmarked for the development of a new Smart Village in East Cairo and to fund ongoing expansions in West Cairo, anonymous sources told Asharq Business<\/a>. The offering will also be done through a capital increase, one of the sources said.<\/p>\n

AND- Adenia Partners sets up shop in Egypt:<\/strong> Mauritius-headquartered private equity firm Adenia<\/a>Partners<\/a> has opened a new office in Egypt, marking its eighth location across Africa and second in North Africa, it said in a press release<\/a>. The expansion comes on the heels of Adenia\u2019s USD 470 mn Capital V fund<\/a>, its first pan-African vehicle targeting mid-sized companies, with Egypt singled out as a key target due to the size of its economy. Heba Hakky will oversee the new office as its principal.<\/p>\n

Where\u2019s the money headed?<\/strong> Adenia seeks to capitalize on investment openings in Egypt\u2019s consumer goods, healthcare, education, and financial services sectors, according to Managing Partner St\u00e9phane Bacquaert, who highlighted Egypt\u2019s \u201cexpanding consumer base, young, well-educated population, and stable economic and financial environment with an abundance of interesting and fast-growing businesses.\u201d <\/p>\n

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THE BIG STORY ABROAD<\/p>\n

Our region of the world is once again dominating the international business press<\/strong>, with reports that Israel is deploying thousands more<\/a> additional troops for its invasion of southern Lebanon \u2014 bringing the number up to around 20k. The big question and concern<\/a> for diplomats and intelligence chiefs remains how Israel will do respond to Iran\u2019s missile barrage last week, with Israeli Defense Minister Yoav Gallant traveling to Washington<\/a> amid US efforts to rein back Israeli retaliation it fears could unleash a wider and more prolonged war.<\/p>\n

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