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Monday, 25 July 2016

Amwal Kuwait eyes IPO in 2017, to select advisors this year

And while we’re on IPOs, Amwal Kuwait Real Estate is planning on listing on the EGX in 2017 in search of equity to fuel its expansion in Egypt, sources tell Al Borsa. The company plans to complete listing official procedures and selecting the advisors for the IPO this year. As we noted back in June, Amwal Kuwait is a subsidiary of Kuwaiti-owned Eskan Global Egypt, which itself was eying an IPO in 2017. Amwal Kuwait recently acquired 98% of Universal Company, which owns a resort in Sharm El-Sheikh. The company is interested in buying land in 6 October, New Cairo and the new administrative capital.

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