Bonyan Private Placement Oversubscribed by ~7x Ahead of EGX Listing

AFRICAN STOCKS AND FINANCEJuly 17, 2025 at 8:53 AM UTC

TLDR

The private placement for Bonyan for Development and Trade’s shares was oversubscribed by 6.88 times, the Egyptian Exchange (EGX) said
Bonyan launched its initial public offering on July 6, offering a 21.94% stake on the EGX. The offering includes 362.9 million shares split into two tranches
The private placement, targeting institutions and high-net-worth individuals, ran from July 6 to July 10 with a price range of EGP 4.96 to EGP 5.44

The private placement for Bonyan for Development and Trade’s shares was oversubscribed by 6.88 times, the Egyptian Exchange (EGX) said. The final offering price has been set at EGP 4.96 per share.

Bonyan launched its initial public offering on July 6, offering a 21.94% stake on the EGX. The offering includes 362.9 million shares split into two tranches: a public offering of 18.1 million shares and a private placement of 344.8 million shares. The company aims to raise EGP 1.8 billion.

The private placement, targeting institutions and high-net-worth individuals, ran from July 6 to July 10 with a price range of EGP 4.96 to EGP 5.44. The public offering, priced at EGP 5.44, closes July 15. EGX has asked brokers to deposit 25% of the value of shares they plan to buy and update recorded orders to reflect the final price.

Bonyan expects trading to begin before the end of July, according to Executive Chairman Shamel Aboul Fadl.

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Key Takeaways

The oversubscription of Bonyan’s private placement signals renewed investor appetite for Egyptian equities amid improving macro indicators. Egypt’s stock market has seen a revival in IPO activity after a quiet period, driven in part by government privatization plans and demand for real assets. The Bonyan offering follows successful IPOs like e-finance and Taaleem. With the EGX30 up over 30% year-to-date and inflation showing signs of easing, local and foreign investors are returning. Large private placements like Bonyan’s also reflect a shift toward institutional participation, in contrast to smaller retail-heavy IPOs of past years. The offering’s 7x oversubscription could encourage more listings in 2025, especially from real estate and industrial players seeking to tap capital markets for growth and diversification.

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