Egyptian Airports Company plans IPO

Published June 4th, 2001 - 02:00 GMT

The chairman of the Egyptian Airports Company, Nagy Samuel, has recently confirmed that it has been decided to offer some of the company’s shares to the public. This move will make it the first joint stock airport management company in Egypt in which the private sector will have an interest, reported the Al-Alam Al-Yaum newspaper. 

 

The Egyptian Airports Company has recently been established for the purpose of constructing new airports and managing existing ones throughout the country. It was entrusted with supervising all Egyptian airports, both private and state-owned, with the exception of the Cairo International Airport, which is considered a self-supervised entity.  

 

All of the firm's shares are currently owned by the state-owned Civil Aviation Holding Company. Samuel noted that the date and the percentage of shares to be offered, are yet to be concluded, and are pending the evaluation of the financial assets of the Aviation Holding Company and its two affiliates. 

 

According to Samuel, the company will soon also offer several BOT (Build, Operate and Transfer) contracts to private companies for the construction of new airports. The company already announced May 20, that it was seeking investors to bring the Assiut Airport up to international standards. ― (MENA Report)

© 2001 Mena Report (www.menareport.com)


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