Hassan Allam plans Cairo, London listing

Egyptian

construction and engineering group Hassan Allam said yesterday it would float up to 44.3 per cent of its shares on the Egyptian Exchange and the London Stock Exchange.

The company said it intended to use the proceeds to develop solar assets, fund its water platform, acquire a speciality engineering company, and support continued growth in construction and building materials businesses. Hassan Allam is a general contractor operating in Egypt, where it employs more than 34,000 people. (Reuters)