Cairo: Mashariq for Organic Agriculture Company intends to list its shares on the Egyptian Exchange (EGX) within about three years, Managing Director and CEO, Abdelrahman Eid, told Mubasher.
The company is preparing for the initial public offering (IPO) in terms of increasing the capital and expanding its shareholder base, according to Eid.
He added that Mashariq for Organic Agriculture also plans to incorporate subsidiaries and acquire companies within the same sector.
On the other hand, Eid unveiled that the company is currently executing an integrated agricultural project spanning 1,000 feddans in New Valley Governorate’s Farafra.
The project will be carried out over five phases of 200 feddans each, the CEO noted, adding that the first phase has been completed and included land preparation, infrastructure, and initial cultivation.
He further said that the IPO is expected to coincide with the full implementation of the New Valley project.
Eid concluded by announcing plans to establish an agricultural processing plant to extract oils from medicinal and aromatic plants, enhancing their value beyond raw crop sales.
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