Capital Med Plans EGX Listing to Raise EGP 2B for Expansion
TLDR
- Capital Med, the medical city project in Badr City, is preparing to list a stake on the Egyptian Exchange (EGX) before the end of the third quarter
- The IPO could raise as much as EGP 2 billion ($41 million), with proceeds earmarked to finance the second phase of the medical complex
- The country’s healthcare spending is expected to rise as population growth, urbanisation, and demographic shifts drive demand for advanced medical services
Capital Med, the medical city project in Badr City, is preparing to list a stake on the Egyptian Exchange (EGX) before the end of the third quarter of 2025, people familiar with the matter told Al Borsa News.
The IPO could raise as much as EGP 2 billion ($41 million), with proceeds earmarked to finance the second phase of the medical complex, which is expected to cost between EGP 3 billion and EGP 5 billion.
Investment bank Al Ahly Pharos has been appointed to manage and promote the offering. In February, the company said it would pursue a direct listing in the first half of 2025, followed by a capital increase to support new construction.
The project, launched to create a regional hub for advanced medical care, is moving to scale up amid rising demand for healthcare infrastructure in Egypt and the wider Middle East.
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Key Takeaways
Capital Med’s planned listing reflects growing investor interest in Egypt’s healthcare sector, which has become a target for both local and foreign capital. The country’s healthcare spending is expected to rise as population growth, urbanisation, and demographic shifts drive demand for advanced medical services. The EGX has also been seeking to attract new listings to deepen liquidity and diversify sectors represented on the exchange, which remains dominated by banking, real estate, and industrial firms. Healthcare IPOs are seen as attractive given their defensive qualities and steady demand. If successful, Capital Med’s offering could set a precedent for other large healthcare projects in Egypt to tap public markets. For investors, the listing offers exposure to both the growth of Egypt’s healthcare industry and the government’s broader strategy to position the country as a regional hub for medical tourism and specialised services.
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