The Sabbour Group is contemplating the IPO of subsidiary Al Ahly for Real Estate Development by mid-2017, Managing Director Ahmed Sabbour told Al Borsa yesterday. Al Ahly — a joint venture between Sabbour Consulting and the National Bank of Egypt — is looking to finance expansion plans through the offering. The company plans to invest some EGP 4 bn in new and ongoing projects, Sabbour added. While he noted that the company was in talks with potential advisors on the transaction, no firm has yet been appointed global coordinator or bookrunner for the offering.

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