Arab Finance: Korra Energi is getting ready for its initial public offering (IPO) on the Egyptian Exchange (EGX), in line with its growth strategy to become a global player, Ayman Korra, the company's President & CEO, said.

The CEO emphasized that the IPO is expected to ensure sustainability and future growth, noting that the company is awaiting approval from the Financial Regulatory Authority (FRA) for the listing.

Through the IPO, the company plans to broaden its shareholder base, achieve sustainability, and boost governance.

Having been operating for 25 years, the group opened two branches in international markets, specifically in Iraq and Saudi Arabia, with plans to invest in three African countries soon. Its projects comprise 65% in the energy sector, 8% in agriculture, and the remainder in construction.

Regarding its financial performance, Korra targets achieving a 20% growth rate next year after its revenues hiked by 69% from 2022 to 2025, reaching EGP 7.9 billion last year. Net profits jumped to EGP 540 million in 2025, compared to EGP 40 million in 2022.

The group also maintains stable gross profit margins of around 19% despite the economic challenges.

Meanwhile, the company is collaborating with the government on several solar energy projects, given its extensive experience in this field.

The CEO noted that the company plays a vital role in reducing emissions and its carbon footprint, having achieved reductions exceeding 600,000 tons of carbon over the past 15 years.

Korra has undertaken several projects, most notably the first tri-generation power plant in Egypt, inaugurated by President Abdel Fattah El-Sisi in December 2022. This plant generates 28 megawatts (MW) and won the Smart Green Projects initiative in Giza Governorate.

Moreover, the company implemented a project in Hurghada to recover wasted flare gases and produce petroleum condensates and electricity, which was selected as the second-best environmental project at the EGYPS Egypt 2020 conference.