Saudi-Egyptian Company announces its investment plan for MOPCO

CAIRO - 14 August 2022: The Saudi Egyptian Investment Company announced Sunday the investment plan of the Misr Fertilizer Production Company - MOPCO, after its share and the associated group in MOPCO's capital reached 25.69 percent.

 

The Saudi-Egyptian Company confirmed, in a statement, that the company's commercial objectives or its proposals regarding the management of "MOPCO" do not negatively affect its management or harm the interests of its customers.

 

It said it aims to drive growth in the company's main business areas, enhance its market position, efficiencies and rapid evolutionary adaptation.

 

“The acquisition of a stake in MOPCO is important to the company,” it stated, noting that it aims with MOPCO's management to determine the imposition of cooperation and growth.

 

The Sovereign Fund of Egypt had announced the completion of the acquisition of the Saudi Egyptian Investment Company, wholly owned by the Saudi Public Investment Fund, of state-owned minority stakes in four leading Egyptian companies listed on the Egyptian Stock Exchange with a total value of LE 24.89 billion ($1.3 billion dollars).

 

The fund stated that the companies in which the minority stakes were acquired are: Abu Qir Fertilizers and Chemical Industries Company, Misr Fertilizer Production Company, Alexandria Container and Goods Handling Company, and e-finance for financial and digital investments.

 

On Wednesday, the Egyptian Stock Exchange data revealed that four deals were executed through the BLOCK TRADING mechanism on the shares of four listed companies (E-Finance for Financial and Digital Investments - Abu Qir Fertilizers and Chemical Industries - Alexandria for Container and Goods Handling - Misr for Fertilizer Production - MOPCO), with a total value of LE 24.89 billion ($1.3 billion).

 

According to stock exchange data, deals were executed through the BLOCK TRADING mechanism on the shares of e-finance for financial and digital investments for 462.2 million shares, with a total value of the deal, including the transfer of ownership of LE 7.499 billion.

 

Moreover, deals were executed through the BLOCK TRADING mechanism on the shares of Abu Qir Fertilizers and Chemical Industries Company for a number of 250.12 million shares, with a total value of the deal, including the transfer of ownership of LE 7.272 billion.

 

The deals were executed through the BLOCK TRADING mechanism on the shares of Alexandria Container and Cargo Handling Company for a number of 297.95 million shares, with a total value of the deal, including the transfer of ownership of LE 3.020 billion.

 

Furthermore, deals were executed through the BLOCK TRADING mechanism on the shares of Misr Fertilizer Production Company - MOPCO for a number of 57.279 million shares, with a total value of the deal, including the transfer of ownership of LE 7.1 billion.