Bonyan for Development and Trade, Egypt's leading pure-play real estate investment company, announced on Wednesday its intention to proceed with an initial public offering (IPO) and list its shares on the Egyptian Exchange (EGX). The company is currently securing the necessary regulatory approvals, including the public subscription notice (PSN) and other clearances from the Financial Regulatory Authority (FRA). Subject to these approvals and market conditions, the offering is expected to be completed in the second quarter of 2025. The IPO will involve a secondary sale by Sky Realty Holding Limited, the selling shareholder, of up to 551,333,333 ordinary shares—representing up to 33.33% of Bonyan's share capital. The offering will include two components: an institutional placement targeting qualified investors, and a retail offering for individual investors. Both tranches—together referred to as the combined offering—will be priced equally at the offer price. Following the offering, a capital increase will be carried out via a subscription limited to the selling shareholder, who will reinvest part of the proceeds at the offer price. CI Capital and Arqaam Capital have been appointed as Global Coordinators and Bookrunners for the IPO. Mubasher Capital Holding for Financial Investments will serve as placement agent, while legal counsel is being provided by Maatouk, Bassiouny and Hennawy. Commenting on the IPO, Bonyan's Executive Chairperson Shamel Aboul Fadl stated: "We believe this IPO will address a fundamentally underpenetrated and underrepresented market in Egypt, while enabling Bonyan to further expand its portfolio and strengthen its market leadership in the real estate investment sector." CEO Tarek Abdel Rahman said: "Real estate remains one of Egypt's most prominent investment sectors, yet real estate investment companies are significantly underrepresented on the EGX. We believe Bonyan's listing will help bridge this gap and provide a more accessible alternative to traditional real estate investments."
