Korra Energi is moving ahead with its listing on the Egyptian Exchange through an accelerated schedule that includes a private placement closing on Sunday and a public offering on Monday. The company aims to raise EGP 735m at EGP 2.97 per share while also expanding its investor reach beyond fundraising.
CEO Ayman Korra said the strategy focuses on completing the offering before the Eid holiday to avoid a crowded IPO window. He noted strong early investor appetite and described the listing as a way to strengthen the company’s profile with institutional investors, funds and strategic partners.
The offering carries a 7% discount to the EGP 3.19 fair value set with the Financial Regulatory Authority and adviser Baker Tilly. Korra Energi maintains a project backlog of EGP 12bn and a pipeline exceeding EGP 42bn in Egypt, with a 2026 target of more than EGP 9.5bn in business activity.
Revenue currently comes 75% from the private sector and 25% from government-linked entities. The firm has begun steps into Saudi Arabia and Iraq by setting up entities and offices, while also reviewing opportunities in Oman, though full expansion depends on regional conditions.