Korra Energi, a private Egyptian energy and investment company, plans an initial public offering of 11% of its shares on the Egyptian Exchange, the company’s CEO Ayman Korra told Zawya Arabic.

The company this week appointed Prime Capital to promote and manage the planned offering but did not disclose the percentage of shares involved.

The company had previously said it plans an IPO of 20% of its shares during the first half of 2025, and the Egyptian Exchange announced the company’s provisional listing in preparation for the offering in December 2024, but completion of regulatory procedures delayed the process.

“We contracted Prime Holding as the offering manager… we will offer 11% of the company,” Korra said, noting that the timing of the subscription will be set after approval of the prospectus by the Financial Regulatory Authority. 

Korra expects the private placement to account for 60% of the offered shares, with the remaining 40% allocated to the public offering.

Korra was founded in 1997 and operates in energy efficiency solutions and contracting services. Its issued capital stands at 450 million Egyptian pounds ($8.6 million).

Click here to read the article in Arabic.