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Administrative Capital for Urban Development to list on EGX in two years - El-Sisi

Administrative Capital for Urban Development to list on EGX in two years - El-Sisi
Similar plans are expected be implemented for New Alamein City

Cairo - Mubasher: The Egyptian President, Abdel Fattah El-Sisi, revealed a plan to offer the shares of the Administrative Capital for Urban Development (ACUD) in an initial public offering (IPO) on the Egyptian Exchange (EGX) within the coming two years. 

During the inauguration of several projects in Badr City on Saturday, El-Sisi said that IPO will be conducted through ACUD Fund which is expected to have EGP 100 billion worth of liquid assets. 

The president expects the assets of ACUD to exceed EGP 3-4 trillion in the coming two years after the company goes public. 

Similar plans are expected to be implemented for New Alamein City and other new cities, El-Sisi noted.