Egyptian cuisine vendor 47.6% of shares will be floated by Gourmet

Gourmet, a high-end food retailer in Egypt, announced on Sunday that it would sell 47.6% of its shares in an IPO on the Egypt stock exchange in February.

After receiving approval from the Financial Regulatory Authority and the Egyptian Exchange, it will sell the shares in both private and public offerings. The price will be determined via a book building procedure.

According to a news release, the company plans to use the funds to grow its manufacturing operations and retail and home delivery networks. In Egypt, it currently has 21 stores.

In 2024, Gourmet, which was established in 2006, made a net profit of 135 million Egyptian pounds ($2.86 million) on 2.09 billion pounds in revenue.