in Business & Finance

Nile Air looks to go public on Egyptian Stock Exchange in 2017

Posted 5 September 2016 · Add Comment

Nile Air's chief executive officer Ahmed Aly said the Egyptian airline is looking to go public on the Egyptian Stock Exchange at some point in 2017, reports ch-aviation.

In an interview with Mubasher TV, Aly said preliminary studies for the offering would be completed in October. The carrier is currently working with several unspecified underwriters to finalize a possible date, he added.

Earlier this year, managing director Yousry Abdel Wahab said the IPO could see as much as 30% of the carrier's total stock being offered to Egyptian investors with owner and founder, Dr. Nasser Al Tayyar, retaining a 40% stake.

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