Heliopolis Housing plans to sell additional shares on the EGX by year’s end

IPO WATCH- State-owned Heliopolis Housing plans to sell additional shares on the EGX by year’s end, Al Mal reports. The company is in the market for advisors on the offering now and, as a result, has yet to decide on the size or timing of the offering. Heliopolis’ general assembly has set a 31 August deadline for the company’s board of directors to present its final recommendation on the transaction. Public Enterprises Ministry officials had said back in April that the company was considering the sale of another 30% of its shares under the government’s program to divest assets through share sales on the EGX.