Elsewedy Electric Considers Dual Listing in Abu Dhabi and Egypt After Failed Acquisition Deal
Elsewedy Electric (SWDY) is exploring a potential dual listing on both the Egyptian Exchange (EGX) and the Abu Dhabi Securities Exchange (ADX), following the collapse of a proposed acquisition deal, according to company CEO Ahmed Elsewedy.
Speaking to CNBC Arabia, Elsewedy said the company remains open to selling a strategic stake to institutional or investment entities, including UAE government-backed investors, as part of efforts to support its expansion plans and strengthen its financial and competitive capabilities.
He explained that the dual listing aims to broaden the company’s investor base and deliver added value to shareholders, while positioning Elsewedy Electric for stronger regional and international growth.
Elsewedy revealed that the company has a clear four-year strategic roadmap focused on expanding across North Africa and the Gulf region—particularly Saudi Arabia and the UAE—while also assessing opportunities to enter the European market, leveraging the rapid global growth in the energy sector.
He added that demand for power transformers remains high amid supply shortages in several markets, prompting Elsewedy Electric to expand its production lines to meet rising needs.
The CEO further noted that access to credit facilities provides the company with a lower-cost financing advantage, enhancing its competitiveness across regional and global markets. He also confirmed that the company is studying a potential capital increase to support its long-term investment plans.
The news follows the Egyptian Financial Regulatory Authority’s (FRA) decision to reject a takeover offer from SAGAS Investments PLC for 100% of Elsewedy Electric S.A.E. Sources in the capital market revealed that the rejection prevented Egypt from losing more than EGP 30 billion in potential tax revenues that would have been forfeited had the deal proceeded under its proposed structure.