CAIRO, Jan 19 – Egyptian upscale food retailer Gourmet is preparing to list its shares on the Egyptian Exchange, with plans to sell 47.6% of the company in an initial public offering scheduled for February, the company said on Sunday.
The offering will be split between private and public tranches, subject to regulatory approvals from the Egyptian Exchange and the Financial Regulatory Authority. Pricing will be determined through a book-building process, the company said in a statement.
Proceeds from the IPO will be used to expand Gourmet’s retail footprint, strengthen its home delivery operations, and scale up its manufacturing capacity. The company currently operates 21 stores across Egypt, catering to higher-income consumers seeking premium and imported food products.
Founded in 2006, Gourmet has positioned itself as a leading player in Egypt’s high-end grocery segment. The company reported a net profit of 135 million Egyptian pounds in 2024, up on revenue of 2.09 billion pounds, reflecting resilient consumer demand despite broader economic pressures.
The planned listing comes as Egypt seeks to revive capital market activity and attract private-sector investment following recent economic reforms and improved market sentiment.
