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Emaar Misr ... in major capital boost.

Emaar's Egypt unit aims to raise $367m

CAIRO, May 5, 2015

Egypt's Emmar Misr said on Tuesday its board had recommended to shareholders that the developer offer 600 million shares on the Cairo bourse to raise E£2.8 billion ($366.97 million).

The subsidiary of Emaar Properties, Dubai's largest real estate developer, said in a statement to the stock exchange it would price the shares at E£4.70 each on the recommendation of accounting and advisory firm Grant Thornton.-Reuters




Tags: Egypt | Emaar Misr |

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