EGX listing aims to broaden investor base beyond fundraising: Korra Energi CEO
Korra Energi adopted an accelerated timetable for its debut on the Egyptian Exchange (EGX), moving quickly between regulatory approval of its prospectus and a mid-week investor roadshow as part of a strategy to complete both the private placement and public offering before the Eid holiday.
The company, led by CEO Ayman Korra, is seeking to raise EGP 735m through the offering, supported by a 7% discount to fair value. The timing was intended to avoid a crowded IPO window and strengthen the company’s market positioning.
Korra told Daily News Egypt that investor appetite during the early stages of the offering had been strong, indicating positive market sentiment toward the IPO.
Under the planned schedule, the private placement is due to close on Sunday, followed by the public offering on Monday, immediately ahead of the Eid recess.
Korra said the listing strategy extends beyond raising capital, aiming instead to strengthen the company’s profile within financial markets and attract institutional investors, investment funds, and strategic partners.
“The objective is not only financing, but also broadening our investor base and enhancing visibility among major market participants,” he indicated.
He also outlined the company’s dividend policy, under which approximately 65% of annual net profits are distributed. Around 40% is allocated to shareholders, while the remainder goes to executive management and the board. Dividend payments are typically made after April, following completion of audits and tax filings.
Regarding pricing, Korra said the offering price was set at EGP 2.97 per share, compared with a fair value estimate of EGP 3.19, following coordination with the Financial Regulatory Authority and Baker Tilly as the independent financial adviser. He added that the valuation reflects the company’s medium- and long-term growth prospects.
Operationally, Korra Energi reported an existing backlog of projects worth EGP 12bn, with implementation periods ranging from one to two years, alongside a future pipeline exceeding EGP 42bn within Egypt.
For 2026, the company is targeting total business activity exceeding EGP 9.5bn. Its revenue structure currently comprises around 75% from the private sector and 25% from government-linked entities, including the Ministry of Housing and urban development authorities. The IPO covers the group’s full operations, including Korra Agri, while energy remains the group’s core business.
On regional expansion, Korra said the company has taken initial steps into Saudi Arabia and Iraq through establishing legal entities, appointing local management teams, and leasing offices. However, he noted that full operational rollout remains dependent on regional geopolitical conditions.
The company is also assessing opportunities in Oman, focusing on sectors including power generation, hospitals, industrial zones, and flare gas recovery systems.
Korra added that expansion plans in Saudi Arabia target areas such as power plants, energy efficiency technologies, cost optimisation systems, emissions utilisation, waste gas recovery, and the pharmaceutical sector.
He concluded by saying the company had navigated recent macroeconomic pressures — including currency volatility and disruptions in import financing — through hedging mechanisms and flexible contract pricing models, helping strengthen financial resilience and operational stability.
The post EGX listing aims to broaden investor base beyond fundraising: Korra Energi CEO first appeared on Dailynewsegypt.
المصدر: Daily News Egypt