Cairo – Mubasher: The Financial Regulatory Authority (FRA) approved the publication of Emerald Development & Projects Management's prospectus to float 45 million shares, representing a 10.59% stake, at a price of EGP 1.28 apiece. 

The offering will be made in the secondary market, the FRA said in a statement to the Egyptian Exchange (EGX) on Monday.  

Odin Investments owns 50.002% of Emerald Development & Projects Managemen, while Egyptians for Housing and Development holds a 49.9% stake.