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Nile Air plans to float 30% stake on EGX

Nile Air plans to float 30% stake on EGX
Photo Credit: Arabianeye - Reuters

Cairo-Mubasher:Nile Air company seeks to float 30% stake on the Egyptian Exchange(EGX) early 2016, said CEO, Yousry Abdel Wahab in exclusive statement to Mubasher .

The initial public offering (IPO) will be from the Egyptian shareholders’ 60% stake, while Nasser Al Tayya will keep his 40% stake, added Abdel Wahab.

The IPO aims to expand the company's shareholders base.

Elaborated, the company's chief declined to state the value of the IPO, noting that it will be announced after determining the stock fair value.

Nile Air is the largest private schedule airline in Egypt operating a fleet of Airbus A320-200.