Egypt's National Printing plans to sell 10% stake to boost market share

The National

3 days ago

National Printing, Egypt's leading printing and packaging platform, plans to sell a 10 per cent stake in the company in an initial public offering to enhance market share.
The company is selling 21.17 million shares and plans to list on the Egyptian Exchange (EGX), it said on Monday.
The offering will include a private tranche, to which Omran Mohammed Al Omran, a Saudi Arabian entrepreneur and anchor investor in the IPO, is fully committed, and a public portion open for public subscription.
The 10 per cent combined offering includes 10.58 million shares allocated to the cornerstone investor in the private tranche, and 10.58 million shares in the public tranche. Both will be offered at the same price per share, the company said.
Prospective investors will be able to subscribe to the public tranche from July 27 to 31, subject to obtaining the relevant regulatory approval and prevailing market conditions.
The selling shareholders are National Printing International Holding, which holds 8.25 per cent of the share capital; Grandview Investment Holdings, which holds 1.75 per cent; and other minority investors, the company announced.
'This IPO marks a pivotal milestone in our journey, creating a platform to accelerate our strategic ambitions and enhance our market presence,' said Sherif El Moallem, the company's managing director.
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'National Printing is ideally positioned to capture new opportunities across local and export markets. We look forward to entering this next chapter as a public company, where we can continue to invest in our capabilities and expand our reach.'
Equity markets in the Gulf and the broader Middle East and North Africa region have experienced a flurry of IPOs, with various government-owned companies listing their shares.
The Mena region had its strongest IPO year in 2024, with 54 issuers raising more than $12.6 billion, start-up data platform Magnitt said.
Egypt's capital market welcomed only two listings from the United Bank and investment company Act Financial on the EGX in 2024, an EY report on IPOs in the Mena region said.
A strong line-up of companies, such as Ahli United Bank and Tabarak Developments, are poised to join the market in 2025, 'signalling a vibrant period for Egyptian IPOs', the report said.
Egypt plans to list stakes in at least 10 state-owned companies in 2025, Prime Minister Mostafa Madbouly said last December. The prime minister's office said that some of the companies which will float its shares include Wataniya, Safi, Silo Food, and wind farm Gabal El Zeit. Shares of state-owned Alexandria Bank and Banque du Caire will also be included in the offerings, the PM's office added.
However, 2023 was a dry year for the Egypt IPO market, with only a single company making its EGX debut, Taqa Arabia.
The Egyptian economy is projected to grow by 4.1 per cent in 2025, despite an anticipated continued depreciation of the Egyptian pound, EY said.
Founded by the El Moallem family, paper and packaging industry veterans, National Printing operates through four main subsidiaries, Shorouk, Uniboard, El Baddar for Packaging and Windsor, serving 15 sectors, including fast-moving consumer goods, pharmaceuticals, white goods and education, the statement said.
The company, which is one of Egypt's largest producers of packaging and printing products, is part of Cairo-based investment firm Qalaa Holdings and has grown through strategic acquisitions and partnerships. It is based in Obour and Sadat Cities and had achieved an annual output exceeding 230,000 tonnes as of last year.
Export sales contributed about 25 per cent of total revenue in 2024. The company recorded revenue of 7.14 billion Egyptian pounds ($1.5 million) in 2024 and 1.7 billion Egyptian pounds in the first quarter of 2025, the statement added.
National Printing is obtaining the required approvals for the IPO, including of the public subscription notice and others from the Financial Regulatory Authority.
Egyptian investment bank EFG Hermes is the global co-ordinator for the combined offering, while Zulficar and Partners is serving as local counsel to the issuer.