Cairo – Mubasher: Medical services provider Cleopatra Hospital is waiting for the approval of Egyptian Financial Supervisory Authority (EFSA) to start fulfilling the requirements necessary for floating 25% of its shares on the Egyptian Exchange.

The company targets to issue 40 million shares on the secondary market through two tranches.  The first tranche is a private share offering encompassing 34 million shares for financial institutions and solvent individual investors, while the second one includes 6 million shares to be sold in an initial public offering.  

On 13 April 2016, the Egyptian Exchange’s listing committee approved registering Cleopatra Hospital on EGX database starting from 14 April 2016.

Earlier, a first-hand official at Cleopatra said the company targets to raise EGP600-700 million approximately through the flotation. 

The company operates with EGP80 million distributed over 160 million shares at EGP0.50 each.