Cairo - Mubasher: The Egyptian Exchange (EGX) has approved listing investment company Act Financial under ticker ACTF.CA.

Act Financial is looking forward to finalising the initial public offering (IPO) within the second quarter (Q2) of 2024, according to a press release.

The company announced that 100% of the IPO proceeds will be used to increase capital, adding that existing shareholders will retain their stakes.

Bassem Azab, CEO of Act Financial, said: “As partners in this story, we are very excited to start sharing our success with the market stakeholders. This has been our vision and dream since starting Act almost a decade ago in 2015.”

“The IPO will not only mark a new chapter in our journey but also provide us with the necessary resources to capitalize on our pipeline of opportunities. This will allow us to grow and expand, further solidifying our position as a key player in the investment scene,” Azab added.