Healthcare provider Cleopatra Holding plans IPO in Egypt's bourse

Ahram Online , Thursday 7 Apr 2016

Mohamed Omran
Mohamed Omran, chairman of the Egyptian Exchange Cairo, March 15, 2015. (Reuters)

An Egyptian subsidiary of UAE-based Abraaj Group requested on Thursday to be listed on the Cairo Stock Exchange with a capital of EGP 80 million ($9 million), the head of the country's bourse, Mohamed Omran, told official news agency MENA.

After filing the required documents, Cleopatra Holding, the healthcare arm of the Emirati group in the North African nation, is currently waiting for the Egyptian bourse’s approval, Omran said.

According to MENA, Cleopatra Holding owns four hospitals in Egypt; Cleopatra Hospital, El-Shorouk Hospital, Cairo Medical Centre and Nile Badrawi Hospital.

Egypt's leading investment bank, EFG-Hermes, will manage the Initial Public Offering, said MENA.

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