Saudi’s Almarai Won’t Mind Listing Shares in Egypt Bourse – CEO

Saudi Arabia’s Almarai, the Gulf’s biggest dairy company, is seeking to increase its market share in Egypt to 35% up from 20% within the next five years, said CEO Abdulrahman Al Fadley.

This would be through pumping new investments throughout the next five years, he added.

Moreover, Al Fadley has not ruled out any possibility to list its shares in the Egyptian stock exchange (EGX) within the upcoming phase.  However, Almarai’s board of directors has not yet discussed proposals to IPO its shares in EGX.

The Saudi firm announced in a statement earlier on Sunday it will invest about EGP 4 billion (US$698.7 million) in Egypt over the next five years.