Safia Munir

The initial public offering (IPO) of Egyptian energy and investment company Qara Energy was oversubscribed more than 31 times on the Egyptian Stock Exchange, according to a statement issued by the exchange on Monday.

The public offering – which allocated 40% of the total offering shares, amounting to 99 million shares – took place between 19 and 25 2026. The private placement was oversubscribed by approximately 5.7 times.

According to the data, the demand for the IPO exceeded 3.1 billion shares.

The offering included Qara Energy - which was founded in 1997 and works in providing energy efficiency solutions and contracting services - an 11% stake in its shares and the offering is expected to raise about 735.1 million pounds (about 14 million dollars).

This will be the second initial public offering (IPO) on the Egyptian Stock Exchange this year, after the market welcomed Gourmet Food shares last February, amid expectations of a revival in offerings supported by accelerating the pace of government offerings.

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

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