Prime: Misr Italia’s Restructuring ‘Completed’ This Month ahead of IPO

Egypt’s financial service company Prime Holding plans by end of this month to complete the restructuring of Misr Italia Group ahead of starting an IPO scheme, chairman Mohamed Maher said.

According to Maher, the restructuring process is part of a plan to sell 20% share of Misr Italia on the Egyptian stock Exchange (EGX) through an initial public offering scheduled by the first quarter of 2015.

The IPO would help Misr Italia raise funds need for its future expansions.

Misr Italia’s capital us worth more than one billion Egyptian pounds (around US$ 140 million); it operates in the Egyptian real estate, touristic development and interior decoration market. The company was established in 1981, according to the company’s Website.