Arab Finance: The Administrative Capital for Urban Development (ACUD) has postponed hiring a financial advisor for its anticipated initial public offering (IPO) until the fourth quarter (Q4) of 2024, Chairman Khaled Abbas told Asharq Business.
He added that the company aims to sell lands valued at EGP 30 billion to EGP 40 billion this year.
In 2023, Abbas revealed that ACUD aims to raise at least EGP 150 billion by offering a stake ranging between 5% and 10% on the Egyptian Exchange (EGX).