{"id":660544,"date":"2025-02-13T00:00:00","date_gmt":"2025-02-13T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/02\/13\/al-ahly-sabbour-to-select-advisor-for-its-planned-ipo-by-june\/"},"modified":"2025-02-13T00:00:00","modified_gmt":"2025-02-13T00:00:00","slug":"al-ahly-sabbour-to-select-advisor-for-its-planned-ipo-by-june","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/02\/13\/al-ahly-sabbour-to-select-advisor-for-its-planned-ipo-by-june\/","title":{"rendered":"Al Ahly Sabbour to select advisor for its planned IPO by June"},"content":{"rendered":"

Al Ahly Sabbour to tap advisor for planned IPO by June: <\/strong>Local real estate developer Al Ahly Sabbour plans to select an advisor for its planned IPO by June, Chairman Ahmed Sabbour said during a press conference attended by EnterpriseAM yesterday. The company is considering one of four potential investment banks for the role. <\/p>\n

(Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n

Remember: <\/strong>The developer is looking to list some 20-25%<\/a> of its shares on the EGX \u2014 initial plans saw the company tapping an advisor early this year and wrapping up the needed listing requirements by March. <\/p>\n

And we have a timeline \u2026 kind of. <\/strong>After selecting the advisor, the developer will need up to 10 months to fulfil the listing requirements, Sabbour said, without providing any details as to when we expect the company to make its EGX debut.<\/p>\n

A long time coming: <\/strong>It was reported in October 2017 that the company would list its shares<\/a> on the bourse within a year.<\/p>\n

Who\u2019s selling? <\/strong>The developer\u2019s only shareholders \u2014 the Sabbour family and the National Bank of Egypt will offload a combined 25% in the company to new shareholders, Sabbour said, adding this isn\u2019t final. The Sabbour family owns 60% of the developer, while the National Bank of Egypt owns the remaining 40%. <\/p>\n

Why go public? <\/strong>The IPO is expected to strengthen the company\u2019s financial position and support its local and regional expansion, which requires capital increases in line with the size of its projects, Sabbour said. The move will also offer more shareholders more flexibility to either increase or decrease their holding in the company. Additionally, as a family-owned business, listing on the EGX would ensure its continuity as management transitions across generations, he explained. <\/p>\n

Capital increase incoming: <\/strong>The developer plans to raise its issued and pain-in capital by EGP 250 mn to reach EGP 550 mn by the end of the year, he said. \u201cThe planned capital increase has nothing to do with the IPO. The decision to hike the capital was taken a while ago to line up with our local and regional operations,\u201d he said. <\/p>\n

What does the company have in store for 2025?<\/strong> Al Ahly Sabbour will invest EGP 10 bn to complete the construction of some of its projects this year, Sabbour said, adding that the company has a sales target of EGP 33 bn for the year. <\/p>\n

And more to come: <\/strong>The developer has two new projects in the pipeline \u2014 the EGP 10 bn second phase of its Summer Vibes North Coast project, which is expected to bring in EGP 21 bn in sales, and the EGP 2 bn new phase of its AT East project in Mostakbal City, which is expected to bring in sales of EGP 5.5 bn.. <\/p>\n

And a Saudi partnership in the pipeline:<\/strong> Al Ahly Sabbour is in talks with a Saudi real estate developer to jointly develop two new projects, one in East Cairo and another in Saudi Arabia. The two sides are expected to reach an agreement this year, Sabbour said without naming the Saudi developer. <\/p>\n","protected":false},"excerpt":{"rendered":"

The developer is looking to list some 20-25% of its shares on the EGX<\/p>\n","protected":false},"author":1,"featured_media":660545,"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":[7224],"tags":[4290,68,72,78,83],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-660544","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-al-ahly-sabbour","tag-egx","tag-enterpriseam","tag-ipo-watch","tag-real-estate","wpautop","entry"],"acf":{"mongo_id":"744b86e1-15db-4578-bed9-e882ba09ce8c","order":"5","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/10\/248.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Al Ahly Sabbour to select advisor for its planned IPO by June","related_issue":[660536],"teaser":"The developer is looking to list some 20-25% of its shares on the EGX","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/2\/.4846728a-543e-4243-a032-a16a5d2bf7bb.mp3"},"yoast_head":"\nAl Ahly Sabbour to select advisor for its planned IPO by June - 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The company is currently deciding between three potential global coordinators for the transaction, he added, stopping short of naming names. 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Al Ahly \u2014 a joint venture between Sabbour Consulting and the National Bank of Egypt \u2014 is looking to finance expansion plans through the offering.\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":569963,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/12\/al-ahly-sabbour-signs-egp-5-bn-agreement-with-the-urban-communities-authority-to-develop-6th-of-octobers-keeva\/","url_meta":{"origin":660544,"position":4},"title":"Al Ahly Sabbour signs EGP 5 bn agreement with the Urban Communities Authority to develop 6th of October\u2019s Keeva","author":"enterpriseam admin","date":"12 March 2020","format":false,"excerpt":"Real estate developer Al Ahly Sabbour has signed an agreement with the New Urban Communities Authority worth an estimated EGP 5 bn to develop the Keeva compound in Sixth of October, Al Mal reports. Company chairman, Hussein Sabbour, said that the compound will be built across 144 acres in four\u2026","rel":"","context":"In "Real Estate + Housing"","block_context":{"text":"Real Estate + Housing","link":"https:\/\/enterpriseam.com\/egypt\/category\/real-estate-housing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":570254,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/24\/al-ahly-sabbour-to-invest-egp-5-bn-in-keeva-project\/","url_meta":{"origin":660544,"position":5},"title":"Al Ahly Sabbour to invest EGP 5 bn in Keeva project","author":"enterpriseam admin","date":"24 March 2020","format":false,"excerpt":"Al Ahly Sabbour is planning to seek a EGP 1 bn loan from local banks to finance its planned EGP 5 bn investment in its Sixth of October compound, Keeva, Managing Director Ahmed Sabbour told the local press. Sabbour did not say whether the company has entered talks with banks\u2026","rel":"","context":"In "Banking + Finance"","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/660544","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=660544"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/660544\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/660536"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/660545"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=660544"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=660544"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=660544"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=660544"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=660544"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}