Egypt's Arabian Cement to announce IPO price on May 10- CEO

Reuters

CAIRO (Reuters) - Egypt's Arabian Cement Company has set an indicative price range for a forthcoming stock market flotation at between 8.45 and 9.55 Egyptian pounds ($1.37), with trading to begin on or around May 21, Chief Executive Jose Maria Magrina said on Monday.

The deadline for buying orders will be on May 8 for private placement and May 13 for retail. The price of the initial public offering will be announced on May 10, he said.

($1 = 6.9953 Egyptian Pounds)

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