Gourmet Egypt sets IPO price range, kicks off subscriptions on EGX
Updated 1/25/2026 9:28:00 AM
Arab Finance: Egypt-based premium food retailer Gourmet Egypt for Food Industries has announced the indicative offer price range and the start of the subscription period for its initial public offering (IPO) on the Egyptian Exchange (EGX), as per a press release.
The indicative offer price range has been set between EGP 6.20 and EGP 6.90 per share, implying an offering size of between EGP 1.18 billion and EGP 1.32 billion.
Based on this range, the company is expected to list with a market capitalization of between EGP 2.48 billion and EGP 2.76 billion.
The offering is structured as a combined offering, comprising a private tranche available to qualified institutional investors and high-net-worth individuals in Egypt, and a public tranche open for public subscription.
The private tranche includes up to 152,413,459 shares, while the public tranche comprises 38,103,365 shares.
Book building for the private tranche begins on Sunday, January 25th, 2026, and is expected to close on Thursday, January 29th, 2026.
The subscription period for the public tranche also opens on Sunday, January 25th, 2026, and is scheduled to close on Wednesday, February 4th, 2026.
A total of 190,516,824 ordinary shares, representing about 47.6% of the company’s total issued shares, are being offered for sale by the existing shareholders through a full secondary share sale.
The selling shareholders are B Investments Holding S.A.E., Basem Abu Ghazaleh, Jalal Abu Ghazaleh, Deema Abu Ghazaleh, and Amgad Sultan.
The final offer price will be determined through the book building process and is expected to be announced on Sunday, February 1st.
Trading of the shares on the EGX is expected to take place on or around Monday, February 9th, 2026, subject to the completion of settlement procedures, regulatory approvals, and customary conditions.
Gourmet Egypt’s shares were listed on the EGX on Wednesday, January 21st, under the trading symbol GOUR.CA.
At the start of trading, B Investments is expected to hold a 40% stake in the company.
Under the terms of the transaction, 44.3% of the shares held by the selling shareholders will be subject to a 24 month regulatory lock-up.
Any additional shares not covered by the regulatory lock-up that remain unsold will be subject to a six-month commercial lock-up.
EFG Hermes Promoting and Underwriting is acting as the sole global coordinator and bookrunner for the offering.
MHR and Partners, in association with White and Case, is serving as local legal counsel to the issuer.
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