Healthy food brand Abu Auf plans Egypt IPO in Q2-2022
AUF, parent company of Cairo-based healthy food brand Abu Auf, is planning to make its share debut on Egypt’s stock exchange (EGX), in the second quarter of 2022, its chairman Ahmed Auf announced on Tuesday.
The company could offer up to 49 percent of its shares on the EGX, said Mohamed Mahgoub, managing partner at private equity firm TCV, which holds a significant minority stake in AUF, told local press.
AUF plans to use the proceeds to finance regional expansion, Mahgoub added.
Abu Auf is the market leader in nuts and dried fruits in Egypt, offering premium quality of products, with the widest range of healthy food, coffee beans, and dates. It currently has 180 branches in Egypt and more than 1,000 warehouses, distributed across governorates.