Al Gioshy Steel plans to float 40% of its share in Q4 2019

Al Gioshy Steel  plans to float 40 percent of its share in the Egyptian bourse during the fourth quarter of 2019, its CEO Tarek AlGioshy.

He told Amwal Al Ghad that his company hired of the investments banks operating in Egypt to conduct the financial and technical studies necessary of the IPO.

He added that the main objective of the floating is to provide new funds in order to maximize the company’s industrial capabilities and expand in the implementation of some new investment projects within the domestic market during the coming period.

Al Gioshy Steel seeks to increase the volume of its investments to 800 million pounds by the end of the current year through a new production line