By Mahmoud Salah-Eddin
Cairo – Mubasher: Eskan Global, a company specialized in organizing exhibitions, conferences and advertising business, began steps to establish a holding company that will be the umbrella for 13 subsidiaries, according to the chief executive.
This holding company will be listed on Kuwait’s stock market in the coming months and then on Cairo bourse in one or two years, said CEO Mahmoud Afifi.
Speaking to Mubasher during a conference held by the company in Cairo, the top executive added that the new company will operate with KWD 2 million (EGP 60 million) capital.
He noted that Eskan has not decided on the stake to be floated or the financial advisor yet.
“Eskan has allocated $1.2 billion worth of investments in Egypt over the coming five years, through transferring around 70% of its overseas investments to Egypt,” said Afifi.
He explained that the group plans to execute projects worth around EGP 2.580 billion in Egypt via its subsidiary Amwal Kuwait.
Translated by Sayed Abdel Rahman
