Egypt’s Prime Holding Eyes EGP500 Mln New Mining Firm Inception

Egypt-based Prime Holding for Financial Investment S.A.E. (PRMH.CA) – has announced on Wednesday its plans to establish a new firm to be a subsidiary of the newly-founded Mining Holding Company.

Mohamed Maher, Managing director of Prime Group, said his firm is currently preparing feasibility studies on the proposed firm on terms of its activities. He added that the estimated authorized capital worth EGP one billion; while the issued is estimated at EGP 500 million.

Mr. Maher further referred that the expected duration of the feasibility studies will range between 3 or 6 months, adding that Prime will afterwards start the procedures to enlist the proposed firm in the Egyptian Exchange (EGX).