Arab Finance: The Administrative Capital for Urban Development (ACUD) aims to raise at least EGP 150 billion by offering a stake ranging between 5% and 10% on the Egyptian Exchange (EGX) during the second quarter (Q2) of 2024, Chairman Khaled Abbas told Asharq Business.

Abbas revealed before that ACUD is expected to see a 15% to 20% year-on-year (YoY) increase in its profits this year.

In March 2022, ACUD appointed the investment bank CI Capital as a financial advisor ahead of anticipated initial public offerings (IPOs) of affiliated companies operating within the fields of electricity and management.

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