Redcon eyes 2Q2019 IPO to finance future expansion plans

IPO WATCH- Redcon eyes 2Q2019 IPO to finance future expansion plans: Redcon Construction is considering floating a portion of its shares in the EGX in an initial public offering in the second quarter of 2019, Managing Director Tarek El Gammal said, Al Mal reports. The company is hoping to raise capital to finance future expansion plans, which could see Redcon venturing into the world of industrial construction as a way of diversifying its revenue sources, according to El Gammal. No details on the size of the offering or expected proceeds were provided.