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Korra to IPO 20% on EGX: Contracting and energy efficiency company Korra Energi is preparing an IPO, with plans to list up to 20% of its shares on the Egyptian Stock Exchange (EGX) in 1H 2025, Chairman Ayman Korra telling Asharq Business. There’s still no word on how much they’re hoping to raise in the offering.
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Background: Korra Energi last week temporarily listed 2.3 bn shares at EGP 0.20 each after the bourse’s listing committee approved the move. Korra has six months to launch an IPO under the listing requirements, which also let the company extend the period with prior approval from the authority.
The company is also currently in the process of selecting an advisor for the planned offering, Korra told the outlet.
About Korra: The 25-year old company has been active in waste-to-energy efforts in Egypt since it launched its first waste-to-energy plant in 2009. Last year, it inaugurated Egypt’s first waste-to-energy facility to repurpose waste from power plant and flare gas projects. The company claims its projects in Egypt contributes to cutting around 600k tons of CO2 emissions per year.
