Egypt Bourse Receives Request to List Emaar’s Egyptian Unit

Emaar Misr, a unit of Dubai’s largest publicly-traded real estate developer Emaar properties PJSC, has submitted an application to the Egyptian bourse to list its shares.

The nominal value of Emaar’s Egyptian unit is 878 million Egyptian pounds ($116 million), the bourse said in a statement on its website without providing further details. Emaar, which raised $1.6 billion from an initial public offering of its malls business in September, will probably sell shares in the Egyptian company in June this year, Chairman Mohamed Alabbar said in October.