Amwal Al Ghad EN - 2015-06-09 07:51:50
Abraj Misr has yet to choose the initial public offering (IPO) consultation to evaluate the company’s assets, according to Public Relations Manager Rania El-Rafey.
El-Rafey added that the company intends to list on the stock market by the start of 2016.
The company has announced that it is willing to list 15% of its assets on the Egyptian Exchange (EGX) by the beginning of next year, while it is expected to choose the IPO consultation this month.
“There is no specific reason for delaying choosing the IPO consultant. Until this moment, the company has a lot of plans to execute its projects in Cairo and the North Coast,” El-Rafey said.
Abraj Misr’s investments amounted to LE 8bn, after it announced its new project, “Future Gate”, that would take place over 37,000 sqm in Nasr City, with investments of LE 4.5bn. The sources of the project’s funding vary between the company, bank financing, and client financing, according to a previous statement by the company’s Chairman, Aly Rabie, to Daily News Egypt. More»