Sky Light for Touristic Development looks to IPO

IPO WATCH- Sky Light for Touristic Development is meeting with EGX’s listing committee today to discuss IPO requirements, says Adel Murad, IR Director at El Wadi Co. for Touristic Investment (ELWA), which owns 45% of Sky Light. This follows the end of a dispute between Sky Light and the Financial Regulatory Authority (FRA), which has finally accepted Sky Light’s appeal to resume its IPO process, according to a statement (pdf). FRA had suspended the company’s IPO process in October over legal issues involving its CEO, according to Murad.