"Valley" costs "Prime" to manage the launch of "Sky Light"



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Murad: Planning to add a new phase to the Golden Coast

Adel Mourad, Investment Relations Director at Al-Wadi Tourism Investment, a 45% -owner of Sky Light, revealed that Prime Holding Investment Bank was selected to manage SkyLite, which will begin after the Egyptian Financial Authority control will not object. He announced an IPO by the end of the second quarter of this year.

Twenty-five percent of Sky Light's capital is expected to be offered on the Egyptian stock market in the next two months, said the head of the investor relations firm.

Skye Light has been trying to offer a bid since 2017, but was postponed because of a dispute with the FSA concerning issues attributed to the president of the company, which was later settled.

Sky Light's ownership structure is split between 45.1%, tourist investment in the valley, 8.26% entrepreneur Tarek Nadim, 16.8% president of the board Abdul Raouf Hussein, 16.9% Khalid Abdul Wahab and other shares to other shareholders.

The company intends to build a new phase in the village of Al Ain Sokhna, Golden Coast, at a price equal to the last increase in capital, and is also preparing to start delivery of the third and final phase. Fifth and final stages.

The Golden Coast El Sokhna Board of Directors for investments in tourism approved an increase of £ 68.6 million in September last year, and the company explained that the subscription covered around 7.15 million shares worth a total of £ 28.6 million.

Written by: Mona Salah

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