Home appliance maker Unionaire plans Egypt, Europe IPO in H1-2018

Egyptian home appliances maker Unionaire Group plans for public offering in Egypt and Europe in the first half of 2018, sources with direct knowledge told Amwal Al Ghad Wednesday.

The company seeks to sell some of its shares in the local stock market and in one of the European bourses, aimed at financing its future expansions and investments.

“We are cooperating now with an investment bank to advise on the floatation and give technical assessment.” the sources added but declined to disclose the name of the investment bank.

Unionaire is looking to develop a TV factory for the production of open cell displays with a 65 percent local components by early June 2018, the sources further told Amwal Al Ghad.