ACUD eyes floating up to 10% stake on EGX in H1 2024

Updated 9/19/2023 6:23:00 AM
ACUD eyes floating up to 10% stake on EGX in H1 2024

Arab Finance: Administrative Capital for Urban Development (ACUD) is planning to offer a 5% to 10% stake of its shares on the Egyptian Exchange (EGX) during the first or second quarter of 2024, the company’s Chairman Khaled Abbas told Asharq Business on September 18th.

He also expected that several agreements with Gulf investors for the development of projects at the New Administrative Capital would be announced before the end of this year.

Additionally, Abbas revealed that ACUD is about to sign an agreement with an Emirati company for the development of an industrial zone on a 1,000-feddan area.

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