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
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.