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Mabany for Real Estate to float 10% stake on EGX

Mabany for Real Estate to float 10% stake on EGX
Photo Credit: Arabianeye-Reuters
Mabany
MABA
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Mabany for Real Estate Investment’s board approved floating 10% of the company's shares on the Egyptian Exchange (EGX) at EGP 1.17 per share.

The board also gave a nod to setting the company’s fair value at EGP 1.17 per share, in accordance with a report from Eagle Advisors Co., an independent financial adviser.

Mabany posted net profits of EGP 12.6 million for 2014, compared with EGP 12.9 million for the previous year.

The company is capitalised at EGP 50 million, distributed across 250 million shares at EGP 0.2 par value each.