Egyptian fertilizer firm Evergrow to float 30% on local bourse

Egyptian fertilizer company Evergrow is planning to float 30 percent of its shares on the Egyptian stock exchange within two years, its chairman said on Tuesday.

The move will support the company’s expansion plans in the country, Mohamed El-Kheshen said.

Founded in 2006 in Abo Rawash Industrial Zone, Evergrow was the first Egyptian company specialized in the manufacturing of fully soluble potassium sulfate, mono-ammonium phosphate (MAP), urea phosphate (crystal and liquid), different NPK solid and liquid formulas and calcium nitrate (crystal and liquid).

The company exports products to more than 70 countries, including Japan, the United States, Italy, Greece, Morocco, and Algeria.