EFG Hermes Appointed Sole Global Coordinator for Gourmet Egypt’s Upcoming IPO on EGX
Gourmet Egypt.Com for Food Products (“Gourmet”) announced its intention to proceed with an initial public offering (IPO) on the Egyptian Exchange (EGX), appointing EFG Hermes Promoting & Underwriting as the sole global coordinator and bookrunner for the offering. This move highlights EFG Hermes’ leading role in managing major IPOs in the Egyptian market and its expertise in attracting local and international investors
The IPO is expected to comprise a secondary sale of up to 190,516,824 ordinary shares, representing 47.6% of Gourmet’s issued share capital, offered by the selling shareholders—B Investments Holding S.A.E, Basem Abu Ghazaleh, Jalal Abu Ghazaleh, Deema Abu Ghazaleh, and Amgad Sultan. B Investments will retain a 40% stake, reflecting continued confidence in the company’s growth prospects
The offering will include two tranches: a private tranche for qualified investors and a public tranche open to retail investors in Egypt, collectively forming the Combined Offering. The offer price for both tranches will be determined through a book-building process, with the IPO expected to be completed and trading to commence in February 2026, subject to regulatory approvals and market conditions
Gourmet, founded in 2006 by the Abu Ghazaleh family, is a leading premium grocery retailer in Egypt. The company operates 21 strategically located stores across Greater Cairo, Alexandria, El Gouna, and the North Coast, complemented by a robust e-commerce platform and delivery operations. Gourmet also operates Gourmet Food Solutions (GFS), a fully owned manufacturing subsidiary producing high-quality, exclusive “Produced by Gourmet” products, which has strengthened its profitability and reduced import dependence
Michael Wright, Chairman of Gourmet, commented
“The IPO of Gourmet marks a major milestone in the company’s journey and sets the stage for the next phase of growth. We remain focused on scaling our business while staying true to the core principles of the Gourmet brand — innovation, authenticity, and dedication to our customers
EFG Hermes’ role as the sole global coordinator underscores its market leadership and trusted position in structuring and executing large-scale equity offerings in Egypt, ensuring broad investor participation and supporting Gourmet’s growth ambitions
The Combined Offering is supported by MHR & Partners in association with White & Case as local counsel to the issuer
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