Cairo – Mubasher: Misr Italia Group seeks offering 20% of its stocks on the Egyptian Exchange (EGX) by the first quarter of 2017, said Hani EL Asal, Chairman in exclusive statement to Mubasher.
The company targets raising EGP 1 billion from its Initial Public Offering on EGX in order to finance its expansions through the upcoming period.
The new valuation for the company may reflect an increase in its asset’s value following the Egyptian pound continuous deprecation against the US dollar and the recovery of the value of the real estate assets in general, added EL Asal.
Misr Italia is a diversified real estate developer that provides varied projects suited for the different market segments.
