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
Live News
-
Social Media and Mental Health: Africa Faces New Challenges
15:25
-
Indian Prime Minister Narendra Modi to Visit Ghana and Namibia to Boost African Partnerships
14:56
-
William Ruto in London: New Agreement Aims to Double Kenya-UK Trade by 2030
14:53
-
Kenya Leads in Tea Exports but Trails in Revenues Compared to China and Sri Lanka
14:05
-
AfDB Approves $474.6 Million Loan to support South Africa's Infrastructure Governance and Green Growth
13:54
-
Togolese Banks Boost Loans to CFA286 Billion, Up 19% in Q1
13:14
-
Togo’s Soybean Sector Targets 500,000 Tons Production by 2026
11:29
-
Angola Partners with US Firm Cybastion to Boost Cybersecurity
09:55
-
Lulalend Offers Quick Credit to Help South African SMEs Manage Cash Flow
08:27
-
Togo’s Cement Industry Sets 2050 Carbon Reduction Goals
08:26
• Maritime sector faces renewed risks amid military tensions in the Middle East• Blockade fears at S...
Lebara Group is now bringing its affordable and reliable mobile services to Africa, starting with Ni...
• Google unveils Veo 3, its latest AI tool for ultra-realistic video generation• Experts warn deepfa...
In a West African financial landscape marked by tighter regulation of the fintech sector, digital fi...
• Gates Foundation commits $1.6 billion over five years to Gavi.• Bill Gates warns of rising ch...
• Modi’s African tour marks first visit by an Indian head of government to Ghana in 30 years.• These visits aim to boost economic, energy, defense, and...
• Kenyan President William Ruto signs strategic partnership with UK Prime Minister Keir Starmer to boost trade, security, and technology cooperation.•...
Kenya exports far more tea by volume than China and Sri Lanka but earns less revenue. Heavy reliance on bulk sales, a narrow product range, and...
UK, Kenya, and Singapore launch coalition to restore trust in voluntary carbon markets. Market value plummeted by over 70% since 2021 amid...
In northern Ethiopia, in the Tigray region, lies Axum (also spelled Aksum), an ancient city that once stood at the heart of one of Africa’s most powerful...
Lake Natron, located in northern Tanzania near the Kenyan border, is one of the most extraordinary and extreme lakes in Africa. Fed primarily by the Ewaso...