Egypt’s NI Capital to offer 4.5% of Eastern Company for bourse listing

Egypt’s Holding Company for Chemical Industries (CIHC) has picked government-owned financial institution NI Capital to offer some of its shares in Eastern Company on Cairo stock exchange.

According to an agreement signed on Thursday, NI Capital will offer 4.5 percent out of 55 percent of CIHC’s shares in Eastern Company on the local stock exchange.

CIHC expects to raise more than 3 billion Egyptian pounds from the Eastern Company and Abu Qir Fertilizers offerings later this year.