Act Financial plans EGX listing in Q2-24 after decade of continuous work – Abdelaziz

Act Financial plans EGX listing in Q2-24 after decade of continuous work – Abdelaziz

By: Abdel Razek El-Showeikhy Cairo – Mubasher: Act Financial is in negotiations to acquire equities in four companies that plan to list their shares on the Egyptian Exchange (EGX), Managing Partner Mostafa Abdelaziz told Mubasher in an interview. Abdelaziz noted that the targeted firms are in the medical and logistics fields, adding that Act Financial intends to list its shares on the EGX during the second quarter (Q2) of 2024. This step comes after the EGX’s recent approval for the listing of Act Financial, which should be followed by the required pass from the Regulatory Financial Authority (FRA) in Egypt. The official told Mubasher: “Listing the company on EGX has been a dream that came true after 10 years of continuous work. We have obtained the temporary listing approval, and currently, we are completing the required procedures for the listing with the FRA. This is a huge step in the company’s success journey.” Abdelaziz said the FRA shall determine the equity set for the offering as well as the price, value, and volume, stating that the offered equity would range between 25% and 30% at a value from EGP 700 million to EGP 1 billion. The initial public offering