Nile Air looks to go public on Egyptian Stock Exchange in 2017
Nile Air's chief executive officer Ahmed Aly said the Egyptian airline is looking to go public on the Egyptian Stock Exchange at some point in 2017, reports ch-aviation.
In an interview with Mubasher TV, Aly said preliminary studies for the offering would be completed in October. The carrier is currently working with several unspecified underwriters to finalize a possible date, he added.
Earlier this year, managing director Yousry Abdel Wahab said the IPO could see as much as 30% of the carrier's total stock being offered to Egyptian investors with owner and founder, Dr. Nasser Al Tayyar, retaining a 40% stake.