Arab Finance: The investment management company Act Financial is seeking to raise EGP 700 million from offering a minority stake on the Egyptian Exchange (EGX) in May, Al Borsa News reported, citing a note issued by the offering’s financial adviser Zilla Capital.

The company aims to secure EGP 500 million from the private placement and EGP 200 million through the public offering.

The note does not reveal the exact stake set to be offered, but sources indicated it constitutes 25% of the firm’s capital.

Moreover, Zilla Capital expects the investment portfolio of Act Financial and its related parties to grow to EGP 6 billion in 2024 and EGP 7.3 billion in 2025, compared to EGP 4.21 billion last year.

It was reported earlier that Act Financial was seeking to raise around EGP 1 billion from offering a minority stake on the EGX.

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