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Landmark Sabbour to float 25-30% stake on EGX end-2018

Landmark Sabbour to float 25-30% stake on EGX end-2018
Landmark Sabbour is also considering dual-listing on the DFM

Cairo – Mubasher: Landmark Sabbour is planning to offer a 25% to 30% stake on the Egyptian Exchange (EGX) by the end of 2018, Khaleej Times reported, citing chairperson Ahmed Sabbour.

The Egyptian real estate firm is also considering dual-listing on the Dubai Financial Market (DFM), Sabbour added.

The real estate developer has recently hired three investment banks to set the company’s valuation, according to the newspaper.

The company’s unit, Continental Investments, has launched Rukan Complex in Dubai with AED 1.1 billion in investments, the newspaper indicated, noting that the first phase of the project will be completed in the third quarter of 2019.