Egypt's Citadel Capital is considering listing two of its existing portfolio companies in the next 12 to 24 months, a senior executive at the private equity firm said. "The listings could take place in Egypt and would be in the range of between $175 million and $250 million," Managing Director Stephen Murphy told reporters on the sidelines of a private equity conference. He declined to name the companies. Citadel Capital manages about $8.3 billion in investments spanning 14 countries. "More liquidity is coming to the markets and as that liquidity is coming through we're taking the opportunity with some of our more mature companies to consider an IPO," Murphy said. Egypt, the most populous Arab country, has largely shrugged off global financial turmoil and the Dubai debt crisis, standing out as a safe haven for investors eyeing the Middle East.
