Arabian Cement aims to raise $120m in IPO

May 8, 2014 2:05 am


Egypt’s Arabian Cement Co has said it aims to raise around $120m in its initial public offering (IPO), Reuters has reported. The company plans to sell 85.202 million shares at a maximum price of EGP9.85 ($1.40), investor relations manager Haitham El-Shaarawy said. Arabian Cement Co said trading will start around May 21. The group has a production capacity of five million tonnes a year and a market share of around 8%.

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