Egypt's Emmar Misr said on Tuesday its board had recommended to shareholders that the developer offer 600 million shares on the Cairo bourse to raise LE2.8 billion (US$366.97 million).
The subsidiary of Emaar Properties, Dubai's largest real estate developer, said in a statement to the stock exchange it would price the shares at LE4.70 each on the recommendation of accounting and advisory firm Grant Thornton.
