The company set the indicative price range between 6.20 Egyptian pounds and 6.90 Egyptian pounds per share, valuing the offering of a 47.6 percent stake at between 1.18 billion pounds and 1.32 billion pounds. The market capitalization of the company at listing is expected to range between 2.48 billion pounds and 2.76 billion pounds.
Two-tranche offering:
The IPO consists of a private placement for qualified
investors and high-net-worth individuals in Egypt, and a public offering for
the Egyptian public.
A total of 190.5 million shares—representing approximately
47.6 percent of the company’s issued capital—will be sold by selling
shareholders, including B Investments Holding, Bassem Abou Ghazalah, Galal Abou
Ghazalah, Deema Abou Ghazalah, and Amgad Sultan.
The private placement will include up to 152.4 million
shares, while the public offering will comprise 38.1 million shares.
Timeline for subscription:
According to the statement, the book-building process for
the private placement began Sunday, January 25, 2026, and is expected to
conclude on January 29. The public subscription period will run until
Wednesday, February 4.
The final offering price is scheduled to be announced on
February 1. Trading on the EGX is expected to begin on or around Monday,
February 9, under the ticker symbol GOUR.CA, following regulatory approvals.
Growth milestone:
"The opening of the subscription represents a pivotal
milestone in Gourmet’s journey," said Michael Wright, Chairman of the
Board. He added that the offering provides a unique opportunity for investors
to participate in the growth of Egypt’s premium food retail sector.
Wright noted that the company is expanding its operations,
diversifying its product range, and growing its digital and delivery channels
to support sustainable growth.
Lock-up periods and strategic stakes:
Under the terms of the offering, 44.3 percent of the selling
shareholders' shares will be subject to a 24-month lock-up period. Any
additional unsold shares not subject to the initial restriction will be under a
six-month lock-up. B Investments will retain a 40 percent stake in the company
following the IPO.
EFG Hermes is acting as the sole international coordinator
for the joint offering. MHR & Partners, in association with White &
Case, is serving as local legal counsel to the issuer.
The company confirmed that all details and conditions of the offering are available in the prospectus published on its official website, noting that the IPO represents a qualitative addition to the Egyptian capital market and the food retail sector listed on the exchange.