Emaar Misr’s $353 M IPO In Egypt To Run June 16-25

Emaar Misr (EMFD) , the Egyptian unit of Dubai’s Emaar Properties, will offer 14.9% of its shares in an initial public offer in Cairo between June 16 and 25, the company said on Monday.

The shares will be priced at 4.49 Egyptian pounds each, meaning the offer is expected to raise 2.69 billion pounds ($353 million).

A tranche of the offer for retail investors will comprise 90 million shares and a tranche for institutional investors will offer 510 million shares.

Source: Reuters