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FINANCIAL NEWS
Egypt’s Mo’men to sell 40% stake in IPO
08 Oct 2010
(MENAFN) Egypt’s fast food group Mo’men plans to sell 40 percent of its shares in an initial public offering (IPO) in late 2012, its chairman said, a rare potential offering on a bourse that has had just one IPO in two years, Reuters reported.
Mohammad Mo’men said in an interview he expected the company to increase its revenue to about $176 million in 2011 from a targeted $132 million this year, as well as planning to buy two small companies.
The global financial crisis halted IPOs in Egypt after oil services company Maridive and real estate firm Palm Hills Developments sold shares in mid-2008.
Mo’men, owned by the Mo’men family, has brands such as Pizza King and Planet Africa. It operates in Sudan, Bahrain and Libya as well as Egypt and is seeking to expand into more markets in the Middle East.
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24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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