ACUD eyes appointing financial advisor to float stake on EGX
Updated 10/4/2023 9:34:00 AM
Arab Finance: Administrative Capital for Urban Development (ACUD) is in the early stages of appointing an international financial advisor to offer part of its stake for sale on the Egyptian Exchange (EGX), the firm’s Chairman Khaled Abbas said in an interview with Asharq Business.
Earlier in September, Abbas, reportedly, announced that the ACUD is planning to offer a 5% to 10% stake of its shares on the EGX) during the first or second quarter of 2024.
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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