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Emaar to list on EGX in Q2-15

Emaar to list on EGX in Q2-15
Emmar
EMAR
7.69% 0.14 0.01
Emaar
EMAAR
-0.49% 8.15 -0.04

 

Emaar Misr, a subsidiary of the UAE’s Emaar Properties, is set to launch part of its stocks in an initial public offering (IPO) on the Egyptian Stock Exchange (EGX) during the second quarter of 2015, two informed sources in the EGX told Reuters, adding that IPO will exceed EGP two billion ($270 million).

Dr. Mohamed Omran, EGX President, previously confirmed that the EGX will see four major listings in 2015.

The EGX saw new listings in 2014 following a hiatus for several years. A total of five companies saw IPOs on the EGX during the year with a total value of EGP 856 million.

 

Photo Credit: Arabianeye-Reuters