Egypt’s largest privately owned infrastructure groups could soon offer investors exposure through subsidiary listings.

Hassan Allam Holding, the Egyptian conglomerate, is evaluating public listings for selected subsidiaries as it expands across the Gulf, Egypt, or both. This is while keeping the holding company under founder ownership.

Why You Should Care

Hassan Allam Holding is weighing the possibility of listing stakes in some of its subsidiaries on stock exchanges in Egypt, Gulf markets, or both. This is while keeping the parent company privately owned. 

The move would allow the group to raise capital through specific business units while maintaining its current ownership structure. Additionally, the listings would give public market investors exposure to specific parts of one of Egypt’s largest privately owned construction and infrastructure groups. This is, of course, without altering the ownership structure of the holding company.

The Details

In an interview with Asharq Business, Chairman and CEO Hassan Allam of Hassan Allam Holding is considering listing stakes in some of its subsidiaries on stock exchanges in the Gulf, Egypt, or both. However, it is not currently seeking to list the holding company on either local or international stock markets. It is instead assessing potential listings for subsidiaries operating in real estate and infrastructure investment.

The group currently has projects under execution worth approximately USD 10.5 billion. Moreover, half are located in Egypt, and the remainder is spread across Saudi Arabia, the UAE, Libya, and Oman.

Saudi Arabia is now Hassan Allam’s largest international market, with contracts exceeding USD 2 billion. This represents around half of its business outside Egypt.

The Ripple

Potential listings would give investors access to parts of one of Egypt’s largest private construction and infrastructure groups without changing ownership of the holding company. 

The plans also reflect the company’s continued expansion across Gulf markets, particularly Saudi Arabia, where both its contracting and real estate businesses are growing.

What to Watch

The company has not decided whether future listings will take place in Egypt, Gulf markets, or both, nor has it announced a timeline. Any future offering is expected to involve subsidiaries rather than the parent company, as Hassan Allam continues to keep the holding company privately owned.