Cairo – Mubasher: Heliopolis Company for Housing and Development considers offering an additional 30% stake of its shares on the Egyptian Exchange (EGX) as part of the government initial public offerings (IPOs) programme.
This step will boost the company’s already traded stocks on the EGX to 57%, while the government will hold onto the remaining stake of Holding for Construction and Development, a top official at the business sector ministry told Shorouk News.
The EGX-listed firm previously announced that it had achieved sales of EGP 36.009 million in February 2018.
On 18 March, the finance ministry had stated that around 23 state-run firms will be listed on the EGX with a combined value of more than EGP 80 billion in the framework of the state-run IPOs programme.
