{"id":686193,"date":"2026-02-03T00:00:00","date_gmt":"2026-02-03T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2026\/02\/03\/tbs-el-abd-and-tamweel-tipped-for-ipos\/"},"modified":"2026-02-03T00:00:00","modified_gmt":"2026-02-03T00:00:00","slug":"tbs-el-abd-and-tamweel-tipped-for-ipos","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2026\/02\/03\/tbs-el-abd-and-tamweel-tipped-for-ipos\/","title":{"rendered":"TBS, El Abd, and Tamweel tipped for IPOs"},"content":{"rendered":"

Good afternoon, friends, and happy hump day.<\/strong> The news cycle is picking up both abroad and at home, with news that familiar names may head to the EGX. In the business press, all eyes remain on Elon Musk\u2019s record-setting merger. Also in today\u2019s issue: we take a look at the state of the job market in 2026 and try New Cairo\u2019s latest specialty coffee shop.<\/p>\n

THE BIG STORY TODAY- <\/p>\n

\ud83d\udccd Could<\/strong> TBS, Tamweel, El Abd be the next IPO stories? <\/strong>Financial Regulatory Authority (FRA) Chairman Mohamed Farid said he would like to see The Bakery Shop (TBS) follow in <\/a>Gourmet\u2019s footsteps<\/a><\/a> and tap the public markets, in remarks made on the sidelines of the <\/a>Summit of Capital Markets<\/a><\/a> we attended today.<\/p>\n

ALSO FROM THE SUMMIT SIDELINES-<\/strong> Tanmeyah Capital Ventures (TCV) Managing Partner Mohamed Mahgoub says the firm is preparing to exit its jointly owned portfolio company with B Investments \u2014 widely understood to be NBFI player Tamweel \u2014 some time soon, during a panel at the summit. He also indicated that their portfolio confectionery heavyweight El Abd could look to the EGX as a potential exit route as soon as next year, replying to a question about whether they regret exiting Abu Auf through a strategic sale instead of an IPO.<\/p>\n

Why it matters:<\/strong> For much of the past decade, the gold standard exit for domestic founders was a strategic sale to a regional or multinational heavyweight \u2014 think Agthia\u2019s acquisition of Abu Auf. Gourmet\u2019s IPO challenges that assumption: Its private placement was oversubscribed 12.2x and priced at the top of its range, underscoring that the local market has both the liquidity and investor appetite to value premium brands effectively \u2014 without relying on a strategic buyer.<\/p>\n

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THE BIG STORY ABROAD-<\/p>\n

\ud83c\udf10 It\u2019s a busy afternoon in the business press, with several stories getting plenty of ink.<\/strong> Elon Musk\u2019s record-setting merger is still dominating headlines with SpaceX\u2019s acquisition of xAI, valuing the entities at USD 1.25 tn. The transaction unifies Musk\u2019s AI and space ambitions to \u201cform the most ambitious, vertically integrated innovation engine on (and off) Earth.\u201d The merger comes as SpaceX plans an IPO that could value it at over USD 1.5 tn.<\/p>\n

^^ Read more on Bloomberg<\/a> and Reuters<\/a>.<\/p>\n

Also making the rounds: US President Donald Trump announced a trade agreement with India to cut tariffs from 50% to 18%.<\/strong> India would halt Russian oil purchases and buy over USD 500 bn of US energy, technology, agriculture, coal, and other products, Trump said on Truth Social. The news follows the EU\u2019s trade agreement with New Delhi.<\/p>\n

^^ Read more on CNBC<\/a> and Reuters<\/a>.<\/p>\n

AND- US-listed rare earth miners saw strong gains in premarket trading today after Trump announced the details for Project Vault<\/strong> \u2014 a first-of-its-kind critical mineral reserve intended for the US private sector. The project is set to bring in USD 2 bn in private capital with a USD 10 bn loan from the US Export-Import Bank.<\/p>\n

^^ Read more on: CNBC<\/a>.<\/p>\n

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