Administrative Capital Company to be offered on EGX within two years

CAIRO - 1 March 2022: Chairman and Managing Director of the Administrative Capital for Urban Development, Ahmed Zaki Abdeen, confirmed that it is planned to offer the Administrative Capital Company on the stock exchange within two years.

 

He added during a conference held by the Construction and Building Committee of the Egyptian Businessmen Association, that the current period is witnessing the start of studies with specialized entities to prepare for the offering in the stock exchange.

 

Abdeen indicated that the company is currently studying the offering in cooperation with CI Capital and a number of specialized entities.

 

He explained that the Company is in the process of launching a holding company represented in the Administrative Capital Company for Urban Development, in addition to forming companies specialized in the fields of electricity, water, gas and buildings, and then working on offering these companies as separate entities on the stock market.

 

Abdeen said that the capital company is moving with full force to the plan of offering on the stock market in light of the real desire to provide huge funds pumped into the development of the third and fourth phases of the administrative capital.

 

He said that the listing of the Administrative Capital Company on the Stock Exchange is expected to achieve great success, as the Administrative Capital owns the largest portfolio of land with a total of 220,000 feddans.

 

The capital also has a strong financial portfolio, and the capital project is a profit-oriented investment project, which will support the demand for buying the shares of the capital company, according to him.