Abu Auf’s awaited IPO on the EGX will be postponed to Q2 or Q3 of 2022, according to its Chairman Ahmed Auf.
Abu Auf had decided to offer part of its shares, and had appointed EFG Hermes as an advisor for the offering.
Auf said the offering was scheduled for Q2-2022, but the difficult economic conditions forced the company to postpone. He stated that rising interest rates in the United States led to the withdrawal of liquidity from the market significantly.
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