Healthcare company Cleopatra Holding submitted a request to list in the Egyptian Exchange (EGX) with an EGP 80m capital, chairman of EGX Mohamed Omran Thursday.
State-owned news agency MENA reported that the company’s request will be reviewed if all needed documents are available.
Cleopatra Holding owns Cleopatra Hospital, Nile Badrawi Hospital, Al Shorouk Hospital and Cairo Specialized Hospital. The healthcare company is owned by Emirati company Abraaj Group.
Investment bank EFG Hermes will act as the financial advisor during the procedure.
Egypt’s domestic IPOs tripled in 2015 while the country witnessed its first cross-border IPOs in five years, international law firm Baker & McKenzie said in a report issued late last year.
“Egypt tripled its domestic IPO activity with $360.3m raised from three listings in 2015, in contrast with one IPO valued at $108.7m in 2014,” the report read, referring to the IPOs of DBK Pharmaceuticals SAE, Edita Food Industries SAE, and Emaar Misr for Development SAE.