Act Financial to be listed on EGX under ticker ACTF.CA
Updated 4/28/2024 7:21:00 AM
Arab Finance: The investment management company Act Financial has obtained approval to be listed on the Egyptian Exchange (EGX) under the ticker ACTF.CA, as per a statement.
Act Financial intends to use 100% of the initial public offering (IPO) proceeds to expand its capital, without exiting from any existing shareholders.
The IPO details will be disclosed following regulatory approvals, with plans to finalize the IPO within the second quarter (Q2) of this year.
illa Capital acts as the financial advisor on the transaction, while Matouk Bassiouny serves as the legal counsel.
It was reported earlier this month that Act Financial seeks to raise EGP 700 million from offering a minority stake on the EGX; EGP 500 million from the private placement and EGP 200 million through the public offering.
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