AMOC considers NASDAQ Dubai-listing

CAIRO – 29 October 2017: A delegation from stock market-listed Alexandria Mineral Oils Company (AMOC) will head to Dubai soon to discuss listing in NASDAQ Dubai, the company announced in a Sunday statement.

AMOC’s representatives are also scheduled to head to Jeddah to review upgrading its labs in coordination with Saudi’s Petromin, the company added.

The mineral oils company contracted with Arabian Oil and Gas to purchase 1,200 tons of oils per month at LE 10,950 per ton, AMOC added.

AMOC targets achieving LE 1.1 billion ($62.2 million) profits in the current fiscal year.
The company intends to establish a huge project for Mazut refining of a total investment value of $500 million.

Around 39.5 percent of Al Ahly Capital stake in the company, equivalent to 10 percent of the company’s shares, will be listed as global depository receipts (GDRs) on London Stock Exchange (LSE), AMOC announced in September.