Egyptian retailer HyperOne plans IPO in late 2019

Egyptian retailer HyperOne is planning an initial public offering at the end of 2019, chairman of parent company Mohamed El-Hawary told Amwal Al Ghad on Tuesday.

HyperOne, with more than 2,500 employees and two main branches, is one of Egypt’s biggest hyper market chains, selling foodstuff, goods, electrical appliance, clothes, and furniture.

Founded in 2005, the colossal retail chain is part of El Bostany for Real Estate Company. Its two branches are in 6th of October in Western Cairo, and 10th of Ramadan on the Eastern outskirts.

“We are studying the listing requirements ahead of choosing one of the country’s investment banks to start listing process afterwards,” El-Hawary said.