IPO WATCH- Arabia Holding to offer <25% stake on EGX within two years: Real estate developer Arabia Holding is considering debuting on the EGX sometime over the next two years offering less than 25% of its shares, Chairman Tarek Shoukry tells Al Mal. The company will decide on the exact stake size once it hires a bookrunner for the IPO. Shoukry did not clarify whether the company is already in talks with potential advisors for the offering.

Market conditions will decide when the company pulls the trigger: The real estate developer is keeping an eye on market conditions to determine when would be best to kickstart the process, Shoukry said. The chairman’s comment comes as the EGX has seen only one IPO this year — e-payments platform Fawry — and one secondary offering from Eastern Tobacco. Rameda Pharma also said it intends to float on the EGX before the year is out. However, several other private and state-owned companies have at least temporarily shelved plans to IPO after the emerging market meltdown in the second half of last year.