The Clap:
Investment management firm Act Financial — which has set July 23rd as the targeted date for its debut on the EGX — has reported EGP 24.35 million in net income for the five months ending in May.
Revenues:
The company recorded EGP 138.41 million during the period.
Remember:
The firm will price its shares at EGP 2.90, planning to list 32% of its shares.
Business model:
The firm’s strategy is to generate value by investing in Egyptian businesses, channeling their investments toward boosting their portfolio firms’ business operations, gaining market dominance, and sharpening corporate management. After reaching their targets, the company plans to offload their stake in its portfolio companies after an average two-year holding period.
Noteworthy investments for Act Financial:
A minority stake in Beltone Financial from 2015 to 2019.
A minority stake in CI Capital from 2019 to 2020.
A minority stake in “Heliopolis Housing” from 2020-2021.
Powered by their consortium, they acquired the largest single stake in SODIC from 2020 to 2021.
