{"id":655828,"date":"2024-11-25T00:00:00","date_gmt":"2024-11-25T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/25\/egypts-first-spac-starts-trading-on-the-egx\/"},"modified":"2024-11-25T00:00:00","modified_gmt":"2024-11-25T00:00:00","slug":"egypts-first-spac-starts-trading-on-the-egx","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/25\/egypts-first-spac-starts-trading-on-the-egx\/","title":{"rendered":"Egypt\u2019s first SPAC starts trading on the EGX"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Egypt\u2019s first SPAC makes its EGX debut: <\/strong>Impact investor Catalyst Partners\u2019 SPAC, Catalyst Partners Middle East (CPME) made its EGX debut yesterday, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/2212.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The SPAC <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4bf67707-5f7d-40d3-97ab-54f7ec225b9f\/gov%25e2%2580%2599t-set-to-expand-ppp-offerings-with-11-new-projects\" style=\"\" rel=\"noopener\">listed 1 mn shares with a nominal value of EGP 10 per share<\/a> \u2014 bringing its total issued capital to EGP 10 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CPME wants to eventually up its capital to EGP 235 mn<\/strong> by offering 22.5 mn shares \u2014 valued at EGP 10 per share \u2014 through a private placement on the EGX, the firm\u2019s Chairman Maged Shawky said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The SPAC is currently studying to acquire <\/strong><strong><a target=\"_blank\" href=\"https:\/\/hapijournal.com\/2024\/11\/24\/%D9%85%D8%A7%D8%AC%D8%AF-%D8%B4%D9%88%D9%82%D9%8A-%D9%83%D8%A7%D8%AA%D9%84%D9%8A%D8%B3%D8%AA-%D8%AA%D8%AF%D8%B1%D8%B3-%D8%A7%D9%84%D8%A7%D8%B3%D8%AA%D8%AD%D9%88%D8%A7%D8%B0-%D8%B9%D9%84%D9%89-10\/#:~:text=%D9%88%D9%83%D8%B4%D9%81%20%D8%B4%D9%88%D9%82%D9%8A%D8%8C%20%D9%81%D9%8A%20%D8%AA%D8%B5%D8%B1%D9%8A%D8%AD%D8%A7%D8%AA%20%D8%B9%D9%84%D9%89,%D8%A7%D9%84%D8%AA%D9%85%D9%88%D9%8A%D9%84%20%D9%88%D8%A7%D9%84%D8%AB%D8%A7%D9%86%D9%8A%D8%A9%20%D9%81%D9%8A%20%D8%A7%D9%84%D8%B1%D9%82%D9%85%D9%86%D8%A9%20%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A%D8%A9.\" style=\"\" rel=\"noopener\">six to ten companies<\/a><\/strong>, among them are two fintech and NBFS firms that are most ready to be acquired, which CPME targets to take over at least one of them <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/ar\/%D8%A7%D9%84%D8%A3%D8%B3%D9%88%D8%A7%D9%82\/%D8%A3%D8%B3%D9%87%D9%85\/%D9%83%D8%A7%D8%AA%D9%84%D9%8A%D8%B3%D8%AA-%D8%A8%D8%A7%D8%B1%D8%AA%D9%86%D8%B1%D8%B2-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A%D8%A9-%D8%AA%D8%B3%D8%AA%D9%87%D8%AF%D9%81-%D8%AA%D9%86%D9%81%D9%8A%D8%B0-%D8%B5%D9%81%D9%82%D8%A9-%D8%A7%D8%B3%D8%AA%D8%AD%D9%88%D8%A7%D8%B0-%D8%B9%D9%84%D9%89-%D8%A7%D9%84%D8%A3%D9%82%D9%84-%D9%82%D8%A8%D9%84-%D9%86%D9%87%D8%A7%D9%8A%D8%A9-%D8%A7%D9%84%D8%B9%D8%A7%D9%85-%D8%A7%D9%84%D8%AC%D8%A7%D8%B1%D9%8A-l7s5j8vk\" style=\"\" rel=\"noopener\">before the end of the year<\/a>, Shawky told reporters yesterday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s a SPAC again? <\/strong>A special purpose acquisition company is a type of shell company used by investors to acquire firms. SPACs raise money from the public in an IPO and then use the proceeds to merge with or acquire an appropriate company. Check out <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a6ab3251-641a-4e2c-aa00-6b8486d10c68\" style=\"\" rel=\"noopener\">our explainer<\/a> for more on how SPACs work.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> CPME became Egypt\u2019s first SPAC, after <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/88ac5801-4921-4b05-a6e4-7167c37d2d7f\/\" style=\"\" rel=\"noopener\">receiving the greenlight<\/a> from the Financial Regulatory Authority (FRA) in late September.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Catalyst is also eyeing expansion into regional markets: <\/strong>Catalyst Partners plans to expand into Arab markets either directly or through acquiring companies with operations in target countries, Shawky told <a target=\"_blank\" href=\"https:\/\/x.com\/AsharqbEGY\/status\/1860608785368154237\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>CPME listed 1 mn shares with a nominal value of EGP 10 per share<\/p>\n","protected":false},"author":1,"featured_media":655829,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","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":[7303],"tags":[102,68,72,119,439],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-655828","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-capital-markets","tag-capital-markets","tag-egx","tag-enterpriseam","tag-financial-markets","tag-spacs","wpautop","entry"],"acf":{"mongo_id":"1734a401-c514-45e5-86bd-ec176e5c4f87","order":"7","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/11\/2282.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt\u2019s first SPAC starts trading on the EGX","related_issue":[655817],"teaser":"CPME listed 1 mn shares with a nominal value of EGP 10 per share","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.3c1e69ad-a48b-4ef4-b19b-55b7749e2579.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>Egypt\u2019s first SPAC starts trading on the EGX - 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\/11\/25\/egypts-first-spac-starts-trading-on-the-egx\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt\u2019s first SPAC starts trading on the EGX\" \/>\n<meta property=\"og:description\" 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swap to complete its first acquisitions","rel":"","context":"In &quot;Capital markets&quot;","block_context":{"text":"Capital markets","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/capital-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/9\/1523.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":657136,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/16\/catalyst-partners-spac-looks-to-acquire-qardy-through-share-swap\/","url_meta":{"origin":655828,"position":1},"title":"Catalyst Partners\u2019 SPAC looks to acquire Qardy through share swap","author":"enterpriseam admin","date":"16 December 2024","format":false,"excerpt":"Qardy is Egypt's first online lending marketplace connecting financial institutions with MSMEs","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A 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Announced (pdf) by the regulator yesterday, the framework sets out the capital requirements, shareholder structure and regulatory responsibilities SPAC founders will need to\u2026","rel":"","context":"In &quot;Capital markets&quot;","block_context":{"text":"Capital markets","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/capital-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/11\/541.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":655783,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/24\/infinity-consortium-to-break-ground-on-solar-project-next-month\/","url_meta":{"origin":655828,"position":5},"title":"Infinity consortium to break ground on solar project next month","author":"enterpriseam admin","date":"24 November 2024","format":false,"excerpt":"Good afternoon, friends, and welcome to the beginning of a new workweek. We hope you\u2019re keeping warm as the temperatures drop. 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