29 March 2014
WHILE Amer Group in November 2010 was Egypt's last initial public offering (IPO) on the stock exchange, a handful of companies are now also willing to offer their shares on the market.
WHILE Amer Group in November 2010 was Egypt's last initial public offering (IPO) on the stock exchange, a handful of companies are now also willing to offer their shares on the market.
Both Etisalat Misr and Emaar Misr, the Egyptian arms of the UAE-based telecommunications and construction giants Etisalat and Emaar, are on the list of companies considering IPOs. The managing director of Emaar said that the IPO would finance the company's expansion in Egypt, especially the second phase of its Emaar Square Project. Emaar Egypt's revenues reached LE7 billion last year.
The announcement came ten days after EFG-Hermes, the largest local investment bank, said it would be advising on three IPOs in Egypt, including Arabian Cement, during 2014.
© Al Ahram Weekly 2014
