Egypt: Abraaj’s subsidiary Cleopatra Holding applies to be listed on local stock market
Monday, 11 April 2016 14:38
Subsidiary of Emirati investment firm Abraaj Group, Cleopatra Holding, applied to be listed on the Egyptian Exchange with a capitalization of EGP80 million ($9 million), news agency MENA revealed citing Managing Director of the Egyptian stock exchange.
The Egyptian stock market is currently studying the application and checking that all necessary documents for its examination are included. Investment bank EFG Hermes acts as the financial consultant for the listing. Cleopatra Holding owns the following health centers: Cleopatra Hospital, Nile Badrawi Hospital, Al Shorouk Hospital and Cairo Specialized Hospital.
If the holding succeeds in listing on the market, more firms should follow. According to a report by Baker and McKenzie, Egyptian Exchange registered three listing in 2015, for a total of $360.3 million raised by firms, against one listing in 2014, for $108.7 million only.
Idriss Linge
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