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MOPCO to finish listing on EGX by next Nov - Official

MOPCO to finish listing on EGX by next Nov - Official
Photo Credit: Arabianeye-Reuters
Mopco
MFPC
-0.80% 51.86 -0.42

Cairo - Mubasher: Misr Fertilizers Production Company (MOPCO) is expected to finish off listing its shares on the Egyptian Exchange (EGX) by the end of next November, Hassan Abelaleem, Chairman of the board and Managing Director told Mubasher.

EGX will list a stake of 4.5% of company’s shares, which will be offered through an initial public offering (IPO), added Abelaleem noting that, the company will run talks with EGX to raise its free float.

The Fertilizer producer has appointed Misr Financial Investments Co. to set the fair value of the company's stocks, pointed out Abelaleem.

MOPCO, one of the petroleum sector companies, founded in July 26, 1998 according to rules and provisions of the law of Investment guaranties and incentives number 8 issued in 1997 inside the free zone in Damietta on a space that is 400.000 meters square allocated for MOPCO project and the future expansions.

The company operates with authorized capital of EGP 2.04 billion, while its issued and paid in capital amounts to EGP 1.99 billion.