Latest news with #SkyRealty
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.'
