Egypt’s Golden Pyramids Plaza denies media reports on Golden Coast’s green sukuk issue plans

Egypt’s Golden Pyramids Plaza denied on Thursday media reports on plans to issue green sukuk by its subsidiary Golden Coast Company.

“In regard to the news published on 16/08/2023 alleging that Golden Coast Company plans to offer sukuk, we want to clarify that neither our company nor its subsidiaries have issued any such announcement.” Golden Pyramids Plaza said in a bourse filling.

“We are currently in the process of exploring financing alternatives for our Egyptian subsidiary projects. If any significant decisions or procedures arise that require disclosure, the company will promptly disclosure the necessary information.”

On Wednesday, media reports said Golden Coast Company was considering issuing its first green sukuk (Islamic bond) in Egypt to finance its project in Soma Bay in the Red Sea.