The Clap ADQ’s subsidiary Aghthia is planning to hop in the Egyptian market again by acquiring a stake in Abu Auf, before the latter goes public.
Backstory Last year, Abu Auf announced its plans to go public in Q2-2022, as the company seeks to expand outside of Egypt.
We say “again” because.. The deal represents another target for ADQ’s Agthia in the Egyptian market after it acquired the majority stake of Atyab’s owner, Ismailia Agricultural and Industrial Investments.
Why this matters
ADQ just acquired fresh stakes in five of the biggest public Egyptian companies. The Emirati wealth fund clearly sees Egypt as an attractive market, & its acquisition spree may not yet be over.