Al Khair River starts trading on Egypt’s stock exchange today

Al Khair River for Development and Agricultural Investment and Environmental Services (KRDI) has started on Tuesday trading on Egypt’s stock exchange (EGX) under the ticker symbol “KRDI.CA”.

It has started trading at a debut price of 0.10 Egyptian pounds ($0.0064) per share.

Its share closed 169 percent higher on the first day of trading.

EGX chairman Mohamed Farid said in a bourse statement that the listing would help in diversifying the sectors making up the stock market, offering various investment products to different traders, particularly in the agricultural sector.

Listing KRDI on the EGX marks a main step in supporting the company’s efforts towards expansion, growth, and implementation of business plans, said managing director Ahmed El Sayed in a statement.

On December 29 last year, the company has been listed on the EGX with an issued and paid-up capital of 200 million pounds.

Al Khair River operates in a number of key sectors, including land reclamation, provision of equipment and facilities to lands, and planting reclaimed lands using modern irrigation methods, in addition to livestock and poultry farming.