Cairo – Mubasher: Alexandria Containers and Cargo Handling Co is looking to list an additional stake on the Egyptian Exchange (EGX) during the fourth quarter of 2018, a source in the firm has said.

The Egypt-based firm will hold discussions with representatives of the Alexandria Port Authority, NI Capital, and the public enterprise ministry to specify the opportune time for implementing the additional share sale, the source added.

Stakes of main shareholders, namely Holding Company For Maritime and Land Transport and the Alexandria Port Authority which own equities of 8.742% and 6.258%, respectively in the company, will be gone public, he noted. 

The EGX-listed firm will use the proceeds of the additional offering to finance expansion projects and debt repayment.