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Egypt-based digital solutions and ICT infrastructure provider Benya Group has revealed plans to dual list on the Egyptian Stock Exchange and foreign stock exchange — a move that reaffirms its long-term commitment to expanding investment opportunities for investors.
According to Benya Group Chairman and CEO Ahmed Mekky, the group has initiated a study to examine a potential IPO in Egypt, after which it will decide on the secondary market and the timing of the offering.
The IPO will allow institutional and retail investors to take up substantial stakes in the group. However, the management of the Egypt-based technology firm has yet to disclose the percentage of shares that it would like to offer to the public through the IPO.
Benya Group is a leading digital solutions and ICT infrastructure provider in Egypt, the Middle East and Africa.
It operates through subsidiaries offering a wealth of products, services and digital solutions, including telecom services, cloud, manufacturing technology-based solutions and systems integration.
Formerly known as Fiber Misr, Benya Group was founded by Ahmed Mekky in 2017. The company continues to digitally transform emerging markets through a comprehensive ICT value chain.
Recently, the group signed a shareholders agreement with Societe Congolaise des Postes et Telecommunications (SCPT) to establish a new local telecommunications operator in Democratic Republic of Congo, with the aim to develop the telecommunications infrastructure there.
Based on the agreement, Benya Telecom DRC will be established in partnership between SCPT and Benya to build and operate the national fiber optic network in DRC to connect cities and enable broader digital services for DRC citizens.
Aside from his leadership roles in Benya Group, Mekky was the CEO of Gulf Bridge International from 2008 until 2016. The Egyptian businessman has more than 18 years of experience in the telecom sector across the MENA region.
