Arabtec plans Egyptian unit’s share sale by 2017

June 3, 2014 1:53 am

Dubai-based construction firm, Arabtec Holding has said it aims to float half of its Egyptian unit on the Cairo stock exchange in 2016 or 2017 in an initial public offer that would value the unit at around $10bn, Reuters has reported. The company also plans to invest about $60bn in Egypt over the next three years in sectors such as real estate development, infrastructure, trains, airports, and oil and gas, said Arabtec, without providing further details.