Cairo – Mubasher: MB For Engineering and Contracting will offer 27.6% of its shares on Cairo bourse at EGP 5.95 a share.

The company is authorized to issue 5.52 million shares worth EGP 32.8 million, the Egyptian bourse confirmed.

The initial public offering (IPO) will be made within a month as of the approval of Cairo bourse, said Ahmed Bahaa Eddin Shalabi, vice chairman and managing director.

Catalyst Partners is sponsoring the share offering, while Cairo Financial Investment is the independent financial advisor.

Sigma Capital is the lead manager, while Mubasher for Securities and Arabeya Online are the assistant lead managers.