Saudi Rakha plans 30% IPO on Egyptian Exchange in H2 2025

Rakha for Agricultural Investment and Development Co., a subsidiary of Saudi Arabia's Alkhorayef Group, announced its intention to list 30% of its shares on the Egyptian Exchange (EGX) in the second half of 2025.

Managing Director Abdullah Alkhorayef told Asharq News that the company owns 24,000 acres under a usufruct system in East Owainat, Egypt. Of these, 10,000 acres are cultivated with various crops, primarily wheat, potatoes, sugar beets, and alfalfa.

He added that the IPO will be carried out "through partnership rather than a capital increase," noting that the company is ready for this offering.

Rakha, which is a subsidiary of Saudi companies, has been operating in Egypt for 20 years, with revenues exceeding EGP 500 million.

The company plans to establish a seed purification station and a factory for agricultural industries as part of a strategy to add value to the harvested crops. Additionally, Rakha aims to carry out a cattle-fattening project and build an onion dehydration plant, along with a date processing factory, the Managing Director said.