Arab Developers Holding assigns Solid Capital for Financial Advisory as an independent financial advisor to evaluate one of the group’s subsidiaries, Invest-Gate reports.

Ayman bin Khalifa, CEO of Arab Developers Holding, says that the company cooperates with Solid Capital for Financial Advisory to study the possibility of offering a stake of the subsidiary company’s shares for public subscription on the Egyptian Exchange.

Additionally, the offer comes within the company’s integrated development strategy that was implemented in the last two years to maximize the use of its available resources and human cadres. The company that offers part of its shares will be uncovered after completing all the details. Moreover, this step aims to support the company’s ambitious plan.

Bin Khalifa explains that the company achieves a record leap in its sales in H1 2022, with contractual sales of EGP 900 mn, a growth rate of 138%, compared to EGP 600 mn in H1 2021.

In a similar vein, Bin Khalifa reveals that the company targets to achieve revenues of EGP 3.6 bn in 2023 and EGP 4.1 bn in 2024, regarding the continuous raise in the implementation rates and delivery of the company’s projects, in addition to the real demand from customers for the company’s projects.