Cairo – Mubasher: Alexandria Mineral Oils Co (Amoc) is considering floating a stake of its shares on the Nasdaq Dubai exchange, following the completion of listing on the London Stock Exchange (LSE) to issue global depository receipts (GDRs).

AMOC’s board discussed raising the company’s stake in Alexandria Wax Products, the state-run company said in a filing to the Egyptian Exchange (EGX) on Monday.

The board also discussed the possibility of signing a protocol with Egyptian and foreign universities to ensure the company’s presence in all international, local, economic, and investment conferences, AMOC added.

The board also considered investment alternatives to maximise the company's products value, in line with defining the optimum percentage of the required financial investment after setting the feasibility study.

The company's board approved importing spare parts from a German firm at a value of EGP 1.13 million to be used in AMOC’s project, as well as raising the prices of maintenance services of the company’s signed agreement in September 2017 with Alexandria Petroleum Maintenance Co (Petromaint) by 16%.

The board of the essential mineral oils producers also agreed on purchasing production inputs valued at EGP 1.7 million, in addition to selling other assets.

The Alexandria-based firm is scheduled to attend the annual meeting of the African Refiners Association (ARA) in Cape Town, South Africa which is set to be held from 11 to 15 March 2018, according to the filing.