Act Financial aims to raise EGP 1bn from minority stake offering

Fatma Salah
2 Min Read

Act Financial has submitted provisional listing documents to the Egyptian Exchange, awaiting approval from the Listing Committee. The company plans to offer a minority stake in its shares, to raise approximately EGP 1bn. The exact portion will be determined after independent financial advisor Fact Financial Consultancy completes the evaluation process.

The offering will involve a capital increase, with allocations to both public and private offerings. Importantly, there will be no exits for existing shareholders. Act Financial aims to complete the offering process during the second quarter of this year. The proceeds will fund anticipated expansions and investment opportunities identified by the company.

Currently, Act’s investment portfolio, including related parties, exceeds EGP 5bn. The company has made a unique mark in the Egyptian market by focusing on direct investment in listed companies on the stock exchange. Notably, Act Financial’s first alliance was with Orascom Holding Company (formerly) to acquire a majority stake in Beltone Financial Holding. Subsequently, it entered into several other ventures, including the latest one with SODIC.

Act Financial remains optimistic about the Egyptian market, emphasizing the attractiveness of listed stocks. Alongside its existing stakes, the company plans to establish funds as part of its strategic activities.

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