Cairo – Mubasher: Holding Co. for Maritime & Land Transport and the Alexandria Port Authority have decided to float 30% stake in Alexandria Container and Cargo Handling Co on the Egyptian Exchange (EGX) through a secondary offering.
NI Capital will act as the offering advisor to provide any services related to the transaction, Alexandria Container said in a filing to the EGX on Sunday.
The company indicated that this comes within the framework of the government's initial public offerings (IPOs) programme.
Alexandria Container last reported an 11.8% growth in net profits during fiscal year 2017/2018, recording EGP 2.45 billion, compared with EGP 2.19 billion in FY16/17.
Egypt plans to free float 23 state-run firms on the EGX at a total market value of EGP 80 billion as part of the first phase of the government IPOs programme.
