Qalaa Holdings studies convertible bond issuance, IPOs for 5 subsidiaries
Updated 11/12/2025 9:42:00 AM
Arab Finance: Qalaa Holdings’ board of directors met to review the company’s plans to reduce loans and borrowing costs and agreed on several measures to be studied further, as per a disclosure.
The board approved delegating the Chairman and Managing Director to jointly examine the possibility of issuing convertible bonds of up to $200 million, or its equivalent in Egyptian pounds.
The proceeds would be used to reduce the company’s remaining debts to creditor banks, settle other liabilities, and invest in subsidiary companies.
The study will be presented to the board once completed.
The board also authorized the Chairman and Managing Director to consider the potential initial public offerings (IPOs) of five subsidiary companies on the Egyptian Exchange (EGX) within the next two years.
The subsidiaries include National River Ports Management Company, with Zilla Capital appointed as offering advisor, and Dina Farms for Food Industries Company, with EFG Hermes appointed as offering advisor.
The planned IPOs also include ASEC for Automation and two other subsidiaries to be disclosed later.
In addition, the board approved studying the possible divestment from two wholly owned subsidiaries and the potential sale of a stake in another subsidiary while maintaining control.
The outcomes of all studies will be submitted to the Board of Directors for review once completed.
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