Egyptian stock Exchange (EGX)’s Listing Committee approved on Thursday the listing of Nile Sugar, a private beet-based sugar mill owned by the Sawiris family.
The shares will be listed on the bourse database on October 26.
Nile Sugar will have an issued capital of EGP 904.209 million distributed on 904.209 million shares with an EGP 1 nominal value per share.
According to the company’s website, Nile Sugar was set up in 2007 to build, operate and manage a beet root sugar extraction plant and refinery. The plant is located in Nubariyah, along the Alexandria desert road, 50 kilometers from the Port of Alexandria. The sponsors of Nile Sugar are Onsi Sawiris & Naguib Sawiris. Project’s investment is EGP 1.63 billion.