Emaar Misr's Cairo bourse debut set for 5 July

Emaar's Egyptian subsidiary will list on the Cairo stock exchange EGX in Cairo on Sunday, 5 July, 2015

Emaar Misr will list on Egyptian Exchange in Cairo.
Emaar Misr will list on Egyptian Exchange in Cairo.

Egypt's Emaar Misr will list on the Egyptian Exchange (EGX) on or around July 5, the company said in a statement today (Tuesday, 30 June, 2015).

Newswire Reuters reported the listing date is "marginally later than what the developer previously expected, saying earlier this month it planned a listing on or around 2 July".

Emaar Misr, the unit of Dubai's Emaar Properties which offered 12.99% of its shares in an initial public offering, said it now expects to obtain approval from the bourse to list on 2 July.

The share sale, which took place between 4 June, 2015 and 25 June, 2015, raised $298.8 million (EGP2.28bn).

On 25 June, traders said the offering was oversubscribed by about 36 times for the retail portion, and 11 times for institutional investors.

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