Cairo - Mubasher: Arabia Investments, Development and Financial Investment Holding Co. announced that its board of directors decided to appoint EFG-Hermes, to act as a book runner on the IPO of Cairo for Development and Car Manufacturing.  

Cairo for Development and Car Manufacturing is a 90%-owned subsidiary and the exclusive agent for the Peugeot brand in Egypt.

The board also reviewed the liquidity position of both Arabia Investments Holding Co. and Cairo for Development and Car Manufacturing.

Arabia Investments posted net profits of EGP 40.2 million in 2014, compared with EGP 62.4 million in the previous year.

The firm is capitalised at EGP 534.6 million, distributed across 534.6 million shares at EGP 1 par value each.