Egypt plans to take the first steps early next year toward selling a stake in the state company behind its new capital city, in what could be the North African nation’s biggest-ever initial public offering.
The Administrative Capital for Urban Development, a joint venture between the military and the Housing Ministry created to oversee the the multi-billion dollar project, has “very very big assets and a big portfolio of land and projects,” said the company’s head, Ahmed Zaki Abdeen.
