Cairo – Mubasher: Eastern Co on Thursday announced that Chemical Industries Holding Company will sell 4% of its shares in the tobacco firm.
Further details regarding the matter will be unveiled soon, Eastern Co said in a filing to the Egyptian Exchange (EGX).
Earlier this week, Chemical Industries Holding's extraordinary general meeting (EGM) agreed to take the required actions to float a stake of up to 4% in Eastern Co’s capital on the EGX.
Generally, the Egyptian government aims to float 23 state-run companies on the EGX at a total value of up to EGP 80 billion as part of the first phase of the state-run IPOs programme.
