SCZONE showcases investment opportunities to eight Japanese companies    Egypt urges Israel to accept Gaza deal amid intensifying fighting    Egypt, ADIB explore strategic partnership in digital healthcare, investment    SCZONE, Tokyo Metropolitan Government sign MoU on green hydrogen cooperation    Al-Sisi, Macron reaffirm strategic partnership, coordinate on Gaza crisis    Egypt welcomes international efforts for peace in Ukraine    Contact Reports Strong 1H-2025 on Financing, Insurance Gains    Egypt, India's BDR Group in talks to establish biologics, cancer drug facility    AUC graduates first cohort of film industry business certificate    Egypt to tighten waste rules, cut rice straw fees to curb pollution    Indian tourist arrivals to Egypt jump 18.8% in H1-2025: ministry data    Egyptian pound down vs. US dollar at Monday's close – CBE    Egypt's FM, Palestinian PM visit Rafah crossing to review Gaza aid    Egypt prepares unified stance ahead of COP30 in Brazil    Egypt recovers collection of ancient artefacts from Netherlands    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    Egypt, Namibia explore closer pharmaceutical cooperation    Fitch Ratings: ASEAN Islamic finance set to surpass $1t by 2026-end    Renowned Egyptian novelist Sonallah Ibrahim dies at 88    Egyptian, Ugandan Presidents open business forum to boost trade    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt, Huawei explore healthcare digital transformation cooperation    Egypt's Sisi, Sudan's Idris discuss strategic ties, stability    Egypt to inaugurate Grand Egyptian Museum on 1 November    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Emaar Misr recommends fair price of EGP 4.7 per share, trading mid-June
Published in Daily News Egypt on 05 - 05 - 2015

The Egyptian arm of UAE real estate developer, Emaar Misr, has approved the independent financial advisor's recommendation, setting the fair price of shares at maximum EGP 4.7, the company announced Tuesday.
The Egyptian Financial Supervisory Authority (EFSA) is yet to study and approve the company's recommendation, an Emaar Misr official explained.
Emaar Misr has outlined it aims to raise EGP 2.8bn through issuing 600m shares on the bourse. Trading on the company's shares is expected to begin by mid-June, the official added.
In February 2015, the EGX announced that Emaar Misr formally requested listing its shares on the stock market.
In early April, the company announced it was considering making amendments in the company's leadership. At a 20 April meeting, however, Chairman Mohamed Alabbar retained his position, as shareholders reselected him for the role.
Emaar Properties registered $912m in profits in 2014, a 30% increase compared to the $699m profits recorded the year before. The company said that approximately 54% of its total revenues came from shopping malls, retail and hospitality businesses.
In the first quarter (Q1) of 2015, a 462% increase in profits was registered, as the company recorded EGP 172.7m in Q1. These figures compared to EGP 30.7m in net profits in the corresponding quarter in 2014.
Emaar Misr CEO Mohamed El-Dahan told Daily News Egypt in March that, over the past two years, the company has made significant progress in developing its master-plan communities.
"Egypt is one of the first countries in the MENA region where we established a fully-owned subsidiary to develop integrated lifestyle communities," El-Dahan said.
He added that Emaar Misr is deemed one of the largest foreign direct investors in the country, and one of the key contributors to Emaar Properties' international revenues. "Even during the challenging time that Egypt faced, we did not stop building our projects," he noted.
Real estate developer and builder of world's tallest tower Burj Khalifa, Emaar Properties was founded in the UAE in 1997, and now has a current global presence in 30 countries. The Egyptian arm of the company is Emaar Misr that has an investment portfolio of EGP 5bn.


Clic here to read the story from its source.