Egypt Post says investments exceed $6.3bn as IPO nears

Arab News
More than 6 billion Egyptian pounds have been invested in new projects. (Shutterstock)
Short Url

https://arab.news/9k7zp

  • Post For InvestmentsCo. IPO is imminent, says chairman
  • Timing and size of IPO will depend on investor appetite

RIYADH: The Egyptian Post Authority said its assets exceed 100 billion Egyptian pounds ($6.3 billion) as it prepares to list its investment arm.

More than 6 billion Egyptian pounds were allocated to investments in new projects, including the sports sector, which will be announced soon, Chairman Sharif Farouk told CNBC Arabia.

Egypt鈥檚 Post For Investments Co. share offering on the Egyptian Stock Exchange is imminent after completing processing of the company and its subsidiaries during the current fiscal year, he said.

Market appetite and the interest from foreign capital will determine the timing and size of the offering.

Topics: #egypt #egyptpost #ipo