Last Update 22:31
Wednesday, 28 July 2021

Egypt approves first issuance of sukuk by Talaat Mostafa subsidiary

Talaat Mostafa Group is Egypt’s largest listed real estate developer.

Reuters , Wednesday 8 Apr 2020
Share/Bookmark
Share/Bookmark

Egypt’s Financial Regulatory Authority approved the first issuance of sukuk, or Islamic bonds, worth 2 billion Egyptian pounds ($127 million) by a subsidiary of Talaat Mostafa Group, it said in a statement on Wednesday.

The sukuk, issued by the subsidiary Arab Company for Projects and Urban Development, will be available for trading and for expedited payment but will not be transferable for shares, the authority said.

The new sukuk period is for 57 months, up to the end of 2024.

Talaat Mostafa Group is Egypt’s largest listed real estate developer.

($1 = 15.7000 Egyptian pounds) 

Short link:

 

Latest

© 2010 Ahram Online.