Cairo-based grocery retailer Gourmet Egypt has announced its intention to proceed with an initial public offering on the Egyptian Exchange (EGX), marking one of the market’s most closely watched consumer-sector listings in recent years.
The offering will be conducted as a secondary sale of up to 47.6% of the company’s shares, with selling shareholders led by B Investments, which will retain a 40% stake post-IPO. The transaction is structured as approximately 80% institutional and 20% retail, with EFG Hermes acting as sole global coordinator and bookrunner.
Gourmet has set an indicative price range of EGP 6.20–6.90 per share, implying an equity valuation of roughly EGP 2.5–2.8bn at listing. The offering is expected to raise between EGP 1.18bn and EGP 1.32bn, subject to final pricing and allocations.
Financial disclosures show that Gourmet’s adjusted EBITDA margin rose to 13.8% in 2024, up from 6.3% in 2022, reflecting a period of operational improvement. The company enters the IPO process with a cash balance of EGP 274m and bank debt of EGP 29m, indicating a low-leverage balance sheet ahead of listing.
Founded as a premium grocery retailer, Gourmet operates an integrated model that includes in-house production through Gourmet Food Solutions, supplying meat, poultry, bakery, and prepared food products across its store network. The company has stated that the listing is intended to enhance liquidity, broaden its shareholder base, and support its next phase of growth as a publicly traded company.
