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Korra Announces 11% IPO on the Egyptian Exchange Valued at EGP 735 Million
Cairo – 18 May 2026: Korra announced the offering of 11% of its shares on the Egyptian Exchange (EGX), in a strategic move aimed at supporting the company’s growth and expansion plans while strengthening its position in the energy, construction, and specialized engineering solutions sectors in both the Egyptian and regional markets. The offering is valued at approximately EGP 735 million, with a proposed offering price of EGP 2.97 per share, representing a 7.2% discount to the fair value of EGP 3.20 per share. The company’s expected market capitalization is estimated at approximately EGP 7.18 billion.
The offering includes approximately 247.5 million shares, comprising a private placement of 148.5 million shares, representing 60% of the total offered shares, commencing tomorrow, Monday, and continuing until 24 May, as well as a public offering of 99 million shares, representing 40% of the total offering, which will begin next Tuesday.
The offering comes at a time of rapid growth in the energy sector and increasing momentum toward sustainability and energy efficiency. The company aims to capitalize on expanding opportunities in Egypt and the wider region, leveraging more than 25 years of experience and excellence in executing specialized projects and delivering integrated energy solutions.
Eng. Ayman Korra, Chief Executive Officer of Korra, stated that listing the company on the Egyptian Exchange marks a transformative milestone in Korra’s journey and reflects its readiness for a new phase of growth and expansion, supported by a strong track record of projects and extensive expertise across the energy, construction, and specialized engineering sectors.
He added that the company aims, through the offering, to enhance its financial flexibility and increase its capacity to execute new projects, particularly in the fields of renewable energy and energy efficiency, thereby supporting sustainable growth and enhancing long-term shareholder value. The offering will also support the company’s future plans, reinforce its position as a key partner in executing strategic projects, and align with the state’s direction toward sustainable development and green transformation.
The offering further supports Korra’s strategy to expand into large-scale projects and increase investments in renewable energy and energy efficiency, while strengthening its regional presence in the Saudi Arabian and Iraqi markets, contributing to the company’s business growth in the coming phase.
The company has delivered strong financial performance over recent years, with revenues rising to approximately EGP 7.9 billion in 2025, compared to around EGP 1.6 billion in 2022, reflecting a growth rate of 69%. Net profit reached approximately EGP 554 million during the same year. In addition, the value of projects under execution reached approximately EGP 12.6 billion in 2026.
Korra aims to maintain strong growth rates over the coming years, targeting revenues of approximately EGP 17.6 billion by 2030, driven by expansion in renewable energy projects and specialized engineering solutions, alongside strengthening its export activities and regional expansion efforts.
Korra includes several specialized subsidiaries under its umbrella, notably Korra Energi, which operates in integrated energy solutions, general contracting particularly electromechanical works solar energy projects, and building management. The group also includes Korra Agri, which specializes in agricultural exports and exports to more than 25 countries worldwide, reflecting the group’s diversified activities and its ability to expand across multiple strategic sectors.