First published: 23-Apr-2026 12:31:22

Safia Munir

Qara Energy, a private Egyptian energy and investment company, is targeting an initial public offering (IPO) of 11% of its shares on the Egyptian Stock Exchange. It has appointed Prime Capital to manage the planned offering, according to Ayman Qara, Chairman of Qara Energy, speaking to Zawya Arabic.

The company had planned an initial public offering of 20% of its shares during the first half of 2025 and the stock exchange announced its temporary listing in preparation for the offering in December 2024, but the completion of the procedures postponed this process.

“We have contracted with Prime to be the offering manager… We will be offering 11% of the company,” Qara said, noting that the subscription date will be determined after obtaining approval for the offering prospectus from the Financial Regulatory Authority.

Qara predicted that the private placement would account for 60% of the shares offered, with the remaining 40% going to the public offering.

Qura was founded in 1997 and operates in providing energy efficiency solutions and contracting services. Its issued capital is £450 million ($8.6 million).

(Prepared by: Safia Mounir, Edited by: Shaimaa Hefzy, Contact: zawya.arabic@lseg.com)

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