Investment plan

Saudi-Egyptian company announces investment plan for MOPCO

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

The Saudi-Egyptian company confirmed in a statement that the company’s business objectives or its proposals regarding the management of “MOPCO” do not negatively affect its management or harm the interests of its customers.

He said it aims to drive growth in the company’s core business areas, improve its market position, efficiency and rapid scalability.

“Acquiring a stake in MOPCO is significant for the business,” he said, noting that he is aiming with MOPCO management to determine the imposition of cooperation and growth.

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

The fund said 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, data from the Egyptian Stock Exchange revealed that four transactions 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 market data, trades were executed through the BLOCK TRADING mechanism on shares of e-finance for financial and digital investments for 462.2 million shares, with a total trade value, including the transfer of property of LE 7.499 billion.

In addition, transactions were executed through the BLOCK TRADING mechanism on shares of Abu Qir Fertilizers and Chemical Industries Company for a number of 250.12 million shares, with a total value of the transaction, including the transfer of property of LE 7.272 billion.

The transactions 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 transaction, including the transfer of ownership of 3.020 billion THE.

In addition, transactions were executed through the BLOCK TRADING mechanism on shares of Misr Fertilizer Production Company – MOPCO for a number of 57.279 million shares, with a total value of the transaction, including the transfer of ownership of 7, LE 1 billion.