Beta Egypt studies IPO on Cairo Bourse

Egypt’s key property developer, Beta Egypt for Urban Development is studying floating some of its shares on the country’s stock exchange (EGX), chairman Alaa Fikry announced Monday.

Speaking to Amwal Al Ghad on Monday, Fikry said his company is currently conducting the assessment studies.

Beta Egypt’s has an authorized capital of 500 million Egyptian pounds (US$65.5 million) and paid-up capital of 77.5 million pounds (US$10 million), the chairman added.

Founded in 1993, Beta Egypt has been developing distinctive projects around Cairo, including 6th of October City and Obour City.