Latest news with #Bonyan
Zawya
22-05-2025
- Business
- Zawya
Bonyan intends to proceed with IPO on EGX
Arab Finance: Bonyan for Development and Trade is planning to proceed with its initial public offering (IPO) and list its shares on the Egyptian Exchange (EGX), according to a press release. Currently, the company is in the process of obtaining the required approvals for the IPO, including the approval of the public subscription notice (PSN) and any other from the Financial Regulatory Authority (FRA). Subject to obtaining the relevant regulatory approvals and prevailing market conditions, the offering is expected to take place in the second quarter (Q2) of 2025. The IPO is expected to consist of a secondary sale of shares by Sky Realty Holding Limited of up to 551.333 million ordinary shares on the EGX, representing up to 33.33% of the company's share capital. The offering will include an institutional offering, a placement to certain qualified investors, and a retail offering, both will be issued at the same price per share. Bonyan has appointed CI Capital Investment Banking and Arqaam Capital to serve as global coordinators and bookrunners for the offering. Meanwhile, Mubasher Capital Holding for Financial Investments will act as a placement agent. Maatouk, Bassiouny and Hennawy have been appointed as counsel to the issuer in the offering. On his part, Bonyan's Executive Chairman, Shamel Aboul Fadl, commented: 'We believe this IPO will address a fundamentally underpenetrated and underrepresented market in Egypt while helping Bonyan further enhance its portfolio and, consequently, its market-leading position across the real estate investment sector.' © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
22-05-2025
- Business
- Zawya
Bonyan for Development announces intention to list on Egypt's EGX in Q2 2025
Egypt - 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.'
Zawya
29-01-2025
- Business
- Zawya
Bonyan plans IPO on Egypt's EGX by end-February
Bonyan Real Estate Investment executives held a press conference on Tuesday to share key updates regarding their forthcoming initial public offering (IPO) on the Egyptian Exchange (EGX). The company announced that it had received official approval for the listing, with the IPO expected to take place by the end of February, subject to the completion of regulatory requirements. The offering will involve a sale of 49% of the company's equity, combining both primary and secondary shares. Bonyan has enlisted CI Capital and Arqaam Capital as bookrunners, Mubasher as the offering agent, and Matouk Bassiouny & Hennawy as the legal advisor to oversee the IPO process. Private Offering for Institutions, Limited Public Access Bonyan's Managing Director, Tarek Abdel Rahman, clarified that 95% of the offering would be targeted at institutional investors and high-net-worth individuals, with the remaining 5% allocated to the public. He emphasized that the funds raised would help drive the company's expansion, with planned investments exceeding EGP 5bn in the year following the IPO. Bonyan's real estate portfolio currently spans 142,000 square meters, valued at approximately EGP 14bn. This portfolio includes 75% office buildings and 25% commercial malls, with an impressive 92% occupancy rate. Notably, 60% of tenants are global corporations, while major Egyptian firms occupy the remaining space. Since its acquisition in 2018, Bonyan has expanded rapidly—from just one property to ten, growing its total space from 55,000 to 142,000 square meters. During this time, the company has shifted from incurring losses to posting post-tax profits of EGP 2.9bn and a pre-tax profit of EGP 4bn, reflecting a robust annual growth rate of 60%. Expansion Plans and Investor Strategy Abdel Rahman also revealed plans for further growth post-IPO, with a focus on acquiring between 20,000 and 30,000 square meters of new office space in Cairo over the next year. CEO Shamel Abu Al-Fadl outlined the strategic focus on attracting institutional investors from Egypt and the Gulf region, particularly Saudi Arabia and the UAE. 'We aim to maintain a high free float for our shares, with 49% of the company's equity potentially offered on the EGX,' Abu Al-Fadl stated. 'Our distinguished tenant roster—including global giants like Nestlé, Vodafone, Johnson & Johnson, and McDonald's—underscores the stability and strength of our real estate portfolio.' Monitoring Growth in NAC Fady Raafat, Managing Director of Financial Affairs, also highlighted the company's focus on the New Administrative Capital, where Bonyan is considering expansion to meet the growing demand from international companies investing in the area. However, Raafat noted that Bonyan would remain flexible, potentially selling assets in locations where market conditions change. 'While we plan to retain our real estate assets for sustainable returns, we are always evaluating our portfolio and adapting to market trends,' Raafat explained. 'Our ongoing efforts to attract foreign investment will continue to reinforce the strength of the Egyptian real estate market.' © 2024 Daily News Egypt. Provided by SyndiGate Media Inc. (
Daily News Egypt
28-01-2025
- Business
- Daily News Egypt
Bonyan plans IPO on EGX by end-February, targeting EGP 5bn in investments
Bonyan Real Estate Investment executives held a press conference on Tuesday to share key updates regarding their forthcoming initial public offering (IPO) on the Egyptian Exchange (EGX). The company announced that it had received official approval for the listing, with the IPO expected to take place by the end of February, subject to the completion of regulatory requirements. The offering will involve a sale of 49% of the company's equity, combining both primary and secondary shares. Bonyan has enlisted CI Capital and Arqaam Capital as bookrunners, Mubasher as the offering agent, and Matouk Bassiouny & Hennawy as the legal advisor to oversee the IPO process. Private Offering for Institutions, Limited Public Access Bonyan's Managing Director, Tarek Abdel Rahman, clarified that 95% of the offering would be targeted at institutional investors and high-net-worth individuals, with the remaining 5% allocated to the public. He emphasized that the funds raised would help drive the company's expansion, with planned investments exceeding EGP 5bn in the year following the IPO. Bonyan's real estate portfolio currently spans 142,000 square meters, valued at approximately EGP 14bn. This portfolio includes 75% office buildings and 25% commercial malls, with an impressive 92% occupancy rate. Notably, 60% of tenants are global corporations, while major Egyptian firms occupy the remaining space. Since its acquisition in 2018, Bonyan has expanded rapidly—from just one property to ten, growing its total space from 55,000 to 142,000 square meters. During this time, the company has shifted from incurring losses to posting post-tax profits of EGP 2.9bn and a pre-tax profit of EGP 4bn, reflecting a robust annual growth rate of 60%. Expansion Plans and Investor Strategy Abdel Rahman also revealed plans for further growth post-IPO, with a focus on acquiring between 20,000 and 30,000 square meters of new office space in Cairo over the next year. CEO Shamel Abu Al-Fadl outlined the strategic focus on attracting institutional investors from Egypt and the Gulf region, particularly Saudi Arabia and the UAE. 'We aim to maintain a high free float for our shares, with 49% of the company's equity potentially offered on the EGX,' Abu Al-Fadl stated. 'Our distinguished tenant roster—including global giants like Nestlé, Vodafone, Johnson & Johnson, and McDonald's—underscores the stability and strength of our real estate portfolio.' Monitoring Growth in NAC Fady Raafat, Managing Director of Financial Affairs, also highlighted the company's focus on the New Administrative Capital, where Bonyan is considering expansion to meet the growing demand from international companies investing in the area. However, Raafat noted that Bonyan would remain flexible, potentially selling assets in locations where market conditions change. 'While we plan to retain our real estate assets for sustainable returns, we are always evaluating our portfolio and adapting to market trends,' Raafat explained. 'Our ongoing efforts to attract foreign investment will continue to reinforce the strength of the Egyptian real estate market.'
