EFG Hermes Concludes Advisory for Gourmet Egypt’s IPO, Signaling Momentum in the Egyptian IPO Market

EFG Hermes, an EFG Holding company and the leading investment bank in the Middle East and North Africa (MENA), announced today the successful completion of its role as Sole Global Coordinator & Bookrunner to Gourmet Egypt.com Foods S.A.E (“Gourmet”) for its initial public offering (IPO) on the Egyptian Exchange (EGX).
This IPO further cements EFG Hermes’ standing as a trusted adviser to founders and corporates pursuing transformational growth, underscoring its continued commitment to deepening Egypt’s capital markets through the successful execution of new IPOs.
The IPO comprised of a secondary sale of up to 47.6% of the Company’s issued share capital by B Investments Holding S.A.E (“B Investments”), along with Jalal Abu Ghazaleh, Basem Abu Ghazaleh, Deema Abu Ghazaleh, and Amgad Sultan. The IPO comprised of two tranches: a private tranche for qualified investors and a public tranche open to retail subscription in Egypt.
The IPO has been heavily oversubscribed with the private tranche covered 12.2x and the public tranche was covered more than 55x. The IPO has seen strong participation from quality regional and international institutional investors, regional family offices in addition to strong local institutional and retail investors’ participation.
Maged El Ayouti, Co-Head of Investment Banking at EFG Hermes, commented: “We are proud to have successfully taken Gourmet public on the EGX in an IPO that has seen exceptionally strong levels of institutional demand local and internationally as well as retail investors. The IPO of Gourmet, which was substantially oversubscribed, demonstrates the revival of investor appetite for market-leading businesses that have a track record of innovation and delivering consistent growth. After a period of a soft IPO market, the debut of Gourmet today marks an important milestone for Egypt’s capital markets as the EGX’s first successful IPO of 2026, a year where we anticipate a recovery in the activity of new issuances following the increased international investor participation and rising liquidity from the local market. We remain committed to helping high-growth companies across the region access public markets, supporting their expansion, delivering value for shareholders, and contributing to the regional capital markets by adding more compelling stories that add to the depth of the exchanges.”
Gourmet is a leading premium grocery retailer in Egypt, renowned for its curated product selection, exclusive offerings, and a seamless customer experience. Established in 2006 and launching retail operations in 2008, Gourmet has transformed into a fully integrated food retail platform with a strong omnichannel presence, including physical stores, e-commerce, and delivery services. In 2015, the company created Gourmet Food Solutions (GFS), a wholly owned manufacturing subsidiary focused on producing exclusive “Produced by Gourmet” products. Currently, Gourmet operates 21 stores spread across Greater Cairo, Alexandria, El Gouna, and seasonal outlets along the North Coast, supported by a growing e-commerce and delivery platform.
About EFG Holding:
EFG Holding (EGX: HRHO.CA – LSE: EFGD) is a financial institution that boasts a legacy of more than 40 years of success in seven countries spanning two continents. Operating within three distinct verticals — the Investment Bank (EFG Hermes), Non-Bank Financial Institutions (NBFI) (EFG Finance), and Commercial Bank (Bank NXT) – the company provides a comprehensive range of groundbreaking financial products and services tailored to meet the needs of a diverse clientele, including individual clients and businesses of all sizes.
EFG Hermes, the leading investment bank in the Middle East and North Africa (MENA), offers extensive financial services, encompassing advisory, asset management, securities brokerage, research, and private equity. In its domestic market, EFG Holding serves as a universal bank, with EFG Finance emerging as the fastest-growing NBFI platform, comprising Tanmeyah, a provider of innovative and integrated financial solutions for micro and small business owners and entrepreneurs, EFG Corp-Solutions, which provides leasing and factoring services, Valu, a universal financial technology powerhouse, Bedaya for mortgage finance, Kaf for insurance, and EFG SMEs, which provides financial services for small and medium enterprises. Furthermore, the company delivers commercial banking solutions through Bank NXT, an integrated retail and corporate banking product provider in Egypt.