Egyptian Food Retailer Gourmet Plans February IPO to Float 47.6% on Egyptian Exchange
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Egypt’s high-end food retailer Gourmet said it plans to float 47.6% of its shares in February through an initial public offering on the Egyptian stock exchange.
The company said the offering will include private and public tranches, subject to approvals from the Egyptian Exchange and the Financial Regulatory Authority.
Gourmet said the share price will be set through a book-building process.
It said proceeds will be used to expand its retail footprint, home delivery network and manufacturing operations, as it seeks to scale beyond its current base of 21 stores in Egypt.
Gourmet, founded in 2006, reported net profit of 135 million Egyptian pounds in 2024 on revenue of 2.09 billion pounds, and the statement cited an exchange rate of 47.2700 Egyptian pounds per dollar.
