“As a project of unprecedented scale and impact, Ras El Hekma will be a catalyst for the development of Egypt’s economy" explained His Excellency Mohamed Hassan Alsuwaidi, Managing Director and Group Chief Executive Officer of ADQ
The tranche, reportedly transferred on Sunday, consists of $14 billion and $6 billion currently held from a previous deposit by the UAE at the Central Bank of Egypt (CBE)
ADQ and ADNEC will invest through a special purpose vehicle, with 49% equity ownership by ADQ and 51% by ADNEC
SODIC aims to fully acquire the company from parent company Orascom Development Egypt, according to a statement to the Egyptian Exchange (EGX) today
Trading kicked off after the end of ADC’s public subscription to retail and professional investors, and has raised a total of AED 367 million through an initial public offering (IPO)
