Cairo – Mubasher: Misr Italia Properties plans to sell 20% to 30% of its shares in an initial public offering (IPO) on the Egyptian Exchange (EGX) within the third-quarter of 2018, CEO Mohamed Hany al-Assal told Reuters.
It is worth mentioning that Misr Italia is a wholly-owned subsidiary of al-Assal family that manages various real estate projects in New Cairo, 6th of October, Shorouk city, Badr, Ain Sokhna, North Coast, and the New Administrative Capital.
Misr Italia purchased about 200-acre land in the New Administrative Capital at a value of EGP 2.1 billion to build a housing project over five years with investments worth EGP 16 billion ($955.2 million).
