23-07-2025
CI Capital leads Bonyan's IPO on Egypt's EGX
Cairo – CI Capital Holding for Financial Investments has executed the EGP 1.80 billion initial public offering (IPO) of Bonyan for Development and Trade on the Egyptian Exchange (EGX), according to a press release.
CI Capital acted as joint global coordinator and bookrunner, advising Bonyan on the transaction, which represented 22% of Bonyan's shares, amounting to 362.90 million shares.
The offering was completed at EGP 4.96 per share, implying a market capitalization of EGP 8.20 billion at the opening bell.
A total of 344.75 million shares were allocated to qualified institutional and high-net-worth investors in Egypt and abroad, with the remaining 18.14 million shares allocated to retail investors in Egypt.
The Institutional book building closed on 13 July, generating around EGP 12 billion of demand, representing a coverage ratio of 6.88x.
Meanwhile, the retail offering closed on 16 July, recording a coverage ratio of 33.7x.
Total orders for the private and public offering of Bonyan crossed 2.98 billion shares, or EGP 15 billion in aggregate demand, implying a blended coverage ratio of 8.2x1.
Amr Helal, CEO of the Investment Bank at CI Capital, commented: 'This latest transaction further strengthens CI Capital leadership role in raising capital across market cycles, having successfully concluded similar transactions with a total value exceeding EGP 14 billion in the past five years.'
