EFG Hermes steers Gourmet Egypt IPO to strong debut on EGX
Strong institutional and retail demand signals renewed momentum in Egypt’s IPO market
Cairo: EFG Hermes, an EFG Holding company and a leading investment bank in the Middle East and North Africa (MENA), has successfully concluded its advisory role as Sole Global Coordinator and Bookrunner for Gourmet Egypt.com Foods S.A.E’s initial public offering on the Egyptian Exchange (EGX), marking a key milestone in Egypt’s capital markets revival.
The IPO consisted of a secondary sale of up to 47.6% of Gourmet’s share capital by B Investments Holding S.A.E and key shareholders Jalal, Basem, and Deema Abu Ghazaleh, along with Amgad Sultan. It was structured in two tranches: a private placement for qualified investors and a public tranche for retail subscribers in Egypt.
Strong demand
Investor appetite was exceptionally strong, with the private tranche oversubscribed 12.2 times and the public tranche covered more than 55 times. Participation came from regional and international institutional investors, regional family offices, and strong local institutional and retail demand.
Maged El Ayouti, Co-Head of Investment Banking at EFG Hermes, said: “The successful listing of Gourmet demonstrates the revival of investor appetite for innovative, high-growth businesses in Egypt. After a softer period for IPOs, this debut is an important milestone for the market and sets a positive tone for 2026, as liquidity rises and international investor participation increases.”
Premium retailer
Founded in 2006 and launching retail operations in 2008, Gourmet has become a leading premium grocery retailer in Egypt. Known for its curated product selection, exclusive offerings, and seamless customer experience, the company operates 21 stores across Greater Cairo, Alexandria, El Gouna, and seasonal locations along the North Coast.
Delivery services
Gourmet also operates a strong omnichannel platform, combining physical stores with e-commerce and delivery services. In 2015, it established Gourmet Food Solutions (GFS), a wholly owned manufacturing subsidiary producing exclusive “Produced by Gourmet” products, further strengthening its integrated food retail ecosystem.
EFG Hermes’ advisory role underscores its position as a trusted partner for companies pursuing transformational growth and highlights its ongoing commitment to deepening Egypt’s capital markets through successful IPOs.
