Egypt’s COPAD Pharma is preparing an IPO that will be largely secondary in nature, providing an exit route for private equity investor Tanmiya Capital Ventures (TCV), which holds a 21% stake in the company, CEO Ahmed Hosny told Zawya. The IPO is set to include a public float of around 20–30%.

The structure marks a shift from earlier disclosures that focused primarily on raising growth capital, with the bulk of shares in the offering now expected to come from existing investors rather than new issuance. 

COPAD seems to have slightly scaled back its expectations for both fundraising and financial performance. The company now expects to raise around EGP 2.5 billion from the offering, while projecting revenues of approximately EGP 2.7 billion in 2026, Hosny added. Both figures represent a modest decline from earlier estimates of roughly EGP 3 billion for both the IPO proceeds and annual revenues.

COPAD is mandating EFG Hermes as financial adviser and lead manager, alongside Zulficar as legal adviser for the transaction which is expected to take place as early as November 2026, Hosny said. 

As part of its pre-IPO strategy, COPAD is expanding into higher-margin consumer health segments. The company has earmarked about EGP 200 million to launch around 40 food supplement products under a new brand, CintraVita, as well as a cosmeceuticals line, Rivita, which is currently under regulatory review, according to Hosny.

(Reporting by Ahmad Mousa; editing by Seban Scaria)
Ahmad.mousa@lseg.com