Egypt to launch wholesale markets company for public offering

The Supply Ministry’s Internal Trade Development Authority (ITDA)  intends to launch the yet-established wholesale markets management company for an initial public offering, according to ITDA Chairman Ibrahim Ashmawy.

The company expected to be offered on the Egyptian stock exchange (EGX) before the end of the current year

Ashmawy further told Amwal Al Ghad that ITDA is set to establish a new company to manage the wholesale markets  system with with total initial issued capital of 100 million Egyptian pounds.

He made these comments on the side lines of laying the foundation stone of a logistics zone in Qena.

The official further noted that the company is being established  in cooperation with contributors from commercial and investment banks  and some private sector companies. Some shares of the company will be allocated to Holding Company for Food Industries and  the General Authority For Supply Commodities.