Saudi Agricultural Firm Mulls IPO in Egypt Bourse – SEBA

A major Saudi agricultural company operating in the Egyptian market is planning a share sale in Egypt’s stock exchange soon, said an official from Egyptian-Saudi Businessmen Association (SEBA).

Speaking to Amwal Al Ghad on Tuesday, Ahmed Sabry – SEBA’s General Secretary – stated that the capital of the Saudi agricultural company’s capital amounts to 150 million Egyptian pounds (around $21 million). The Saudi firm is currently conducting feasibility studies on the initial listing offering of its shares on the Egyptian Exchange (EGX), he noted.

The total value of Saudi Arabia’s investments in Egyptian market is hovering between 26-27 billion Saudi riyals (around $7.2 billion).  SEBA’s board is targeting 100 Saudi companies investing in Egyptian market.

The Saudi Egyptian businessmen association is a non-governmental, non-profit organization, serving the interest of the Saudi – Egyptian business community.

It is established in 2013 according to the provisions of the law no. 84 of 2002, by virtue of decree no. 4966 and was inspired by a group of Saudi and Egyptian businessmen to enhance economic cooperation between Saudi Arabia and Egypt.