Bonyan intends to proceed with IPO on EGX

Updated 5/21/2025 10:05:00 AM

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.”