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Bonyan gets approval to list on Egyptian bourse

By Pramod Kumar
Plant, Potted Plant, Architecture Bonyan/LinkedIn
A view of Bonyan's Walk of Cairo project. The listing is subject to regulatory approvals

Bonyan, an Egyptian real estate investment company, has secured approval to list on the Egyptian Exchange (EGX) within the first half of 2025.

The listing is subject to regulatory approval by the Egyptian Financial Regulatory Authority and the stock exchange.

No details of the IPO were given.

“The listing reinforces our ambition to make real estate investing in Egypt as accessible, simple and lucrative,” said executive chairman Shamel Aboul Fadl.

The stock will be listed under the ticker symbol “Bony.Ca”.

CI Capital and Arqaam Capital were appointed as joint global coordinators and book-runners, while Mubasher as placement agent. Matouk Bassiouny & Hennawy will act as the legal counsel.

In November, Bonyan completed a capital increase of EGP416 million ($8.4 million) to EGP1.65 billion in November 2024, which will strengthen its financial position and support acquisition opportunities.  

Egypt’s economic recovery and currency devaluation have resulted in the “rediscovery of the real estate market by foreign investors”,  Omar El Hamamsy, CEO of Orascom Development, said last October. 

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