• Home
• Business

EFG Hermes, part of the EFG Holding Group and a leading investment bank in the MENA region, has successfully acted as the Global Coordinator and Bookrunner for the initial public offering (IPO) of Gourmet Egypt Dot Com for Food – S.A.E. (Gourmet) on the Egyptian Exchange (EGX).

The IPO, which included both a private placement for institutional investors and qualified individuals, and a public offering for retail investors in Egypt, offered a secondary sale of up to 47.6% of the company’s issued capital by B Investments Holding S.A.E., alongside shareholders Jalal Abu-Ghazaleh, Basel Abu-Ghazaleh, Dima Abu-Ghazaleh, and Amjad Sultan.

The offering saw strong investor demand, with the private placement oversubscribed 12.2 times and the public tranche covered more than 55 times, attracting high-quality regional and international institutional investors, family offices, and local retail investors.

Commenting on the IPO, Magid El-Eyouti, Co-Head of Coverage & Distribution at EFG Hermes, stated:
"We are proud of the successful execution of Gourmet’s listing on the EGX, which witnessed strong institutional and retail participation. This demonstrates the renewed investor appetite for leading companies with proven innovation and growth potential."

He added that the IPO marks the first successful public offering in 2026 on the Egyptian Exchange, signaling a revival in IPO activity this year, supported by increasing international investor participation and rising local market trading volumes.

Founded in 2006, Gourmet Egypt is a leading retailer of premium food products, renowned for its curated selection, exclusive offerings, and seamless customer experience. Since launching retail operations in 2008, Gourmet has grown into a fully integrated food platform, including physical stores, e-commerce channels, and delivery services. The company also owns Gourmet Food Solutions, a wholly-owned subsidiary producing exclusive in-house branded products. Currently, Gourmet operates 21 branches across Greater Cairo, Alexandria, and El Gouna, alongside seasonal branches in the North Coast, supported by its digital commerce platform and fast-growing delivery operations.

This successful IPO underscores EFG Hermes’ role as a trusted advisor for founders and high-growth companies, as well as its ongoing commitment to strengthening Egypt’s capital markets by facilitating access to public equity markets for innovative businesses.