Prime Eyes IPOs for Two Property Firms on EGX in Q2/15

Big 5

Egypt’s Prime Holding for Finance Investments will enter serious negotiations with two major real estate companies over listing their shares on the local bourse.

The talks will be with Arabia Group for Development and Urban Progress and Misr Italia over listing 25% and 10% stakes, respectively on the Egyptian Exchange (EGX).

According to a source with knowledge of the talks, Prime expects to fulfill the listing requirements for the two companies within the second quarter of 2015.

The listing will assist Arabia Group and Misr Italia in funding their future expansion strategies.

In addition to the relative stability in Egypt, Prime’s Vice Chairman Mohamed has referred in a previous statement to Amwal Al Ghad to the vivid amendments to the Egyptian Exchange’s listing rules, which would in return boost the investors’ appetite to list their companies’ stocks in the market.