Arab Developers hires advisor to evaluate subsidiary for potential IPO

Updated 8/21/2022 10:13:00 AM

Arab FinanceArab Developers Holding (ARAB) announced that it appointed Solid Capital for Financial Advisory (SCFA) as an independent financial advisor to evaluate a subsidiary, according to a bourse filing on August 21st.

The evaluation paves the way for a potential offering of a stake in the subsidiary in an initial public offering (IPO) on the Egyptian Exchange’s (EGX) main market.

Established in 2015, Arab Developers is a leading real estate developer in Egypt that has a diversified business portfolio.