Egypt-based Albatros group of resorts is preparing to raise money in an initial public offering next year to double the number of rooms it operates, Bloomberg has reported. The sale may raise $200m to $250m, according to an executive at Beltone Financial who will oversee the IPO. The group will use the money to increase its 14 resorts capacity to 12,000 rooms, Albatros owner, Kamel Abu Ali said.
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