PHOTO
Egypt-based real estate investment company Bonyan said on Tuesday that it has obtained approval to list on the Egyptian Stock Exchange (EGX).
Shamel Aboul Fadl, Executive Chairman of Bonyan said in a statement that the approval furthers the company’s ambition to make real estate investment in Egypt accessible and lucrative for all.
“As the first listed Real Estate Operating Company (REOC) in Egypt offering exposure to capital appreciation and rental yield, the listing approval marks a key milestone for our company,” he said.
The statement said the company will list under the ticker symbol BONY.CA.
Bonyan plans to IPO within the first half of 2025, subject to the completion of all regulatory requirements set forth by the Egyptian Financial Regulatory Authority and the EGX.
The company has mandated CI Capital and Arqaam Capital as Joint Global Coordinators and Bookrunners, and Mubasher as placement agent, and Matouk Bassiouny & Hennawy acting as the issuers’ legal counsel.
(Marwa Abo Almajd; Editing by Anoop Menon)
Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.
