Emaar Misr ... plan for IPO.
Emaar aims to float Egypt unit in June 2015
DUBAI, October 2, 2014
Dubai's Emaar Properties hopes to launch an initial public offering of its Egyptian unit in about June 2015, the company's chairman told a conference in Dubai on Thursday.
Mohamed Alabbar said the Egyptian unit was worth between Dh3 billion and Dh4 billion ($816.8 million-$1.09 billion).
Emaar's Egyptian unit, Emaar Misr, has an investment portfolio of E£53 billion ($7.41 billion), according to Emaar's website.
Alabbar yesterday said the company plans to sell shares in its hotel business.
He said the company will announce the hotel sale “in the next few months.” Alabbar declined to provide more details on the IPO.