Confidential informants have disclosed to DNE that Act Financial, in collaboration with Zilla Capital—the orchestrator of the inaugural public offering on the Egyptian Exchange (EGX)—is championing a promotional tour for Act. The objective is to garner interest from financially robust investors for the company’s imminent EGX listing.
Insiders report that the promotional tour is geared towards enticing investment from funds and affluent individuals primarily in the UAE and Saudi Arabia, with a broader aim to captivate both domestic and global investors.
It has been noted that a multitude of international investors has already signalled their enthusiasm for the forthcoming private phase of the IPO. The roadshow is slated to commence post-haste following the provisional registration committee’s sanctioning of the offering.
Moreover, insiders have indicated that the offering will encompass up to a 25% stake, apportioned between a 20% private placement and a 5% public float. It is confirmed that the principal shareholders will retain their stakes post-IPO.
The firm anticipates amassing an offering share ranging around EGP 700 million, with the commencement of trading on the bourse projected for the terminal days of this May, as per the roadshow brief.
Zilla Capital’s report further elucidates that the cumulative investment portfolio of Act Financial and its affiliates tallied EGP 4 billion at the previous year’s conclusion, while the entity’s standalone investment portfolio was valued at EGP 1 billion.
Basem Azab, the Chief Executive Officer of Act Financial, recently articulated his anticipation for an increased investor presence in the Egyptian arena. He underscored that the EGX listing has been a pivotal ambition for the firm since its establishment in 2015.
Azab expressed, “The public float marks not merely the inception of a fresh epoch in our narrative but also equips us with the capital to underwrite expansive investment ventures, thereby cementing our stature as a formidable entity in the investment domain.”
