Minister of Public Enterprise Hisham Tawfik revealed the ministry’s intentions to offer an additional stake in Egyptian Chemical Industries (KIMA) on the EGX.

More Details  His announcement came during the opening of the “KIMA 2” factory in Aswan, in which he stated that the plan to offer an additional stake will come once KIMA’s profitability improves on the back of this expansion.

Why is this Important  KIMA would be another state-owned company with plans to offer an additional stake on the EGX. Earlier this month Abu Qir Fertilizers (ABUK) offered an additional 10% stake, & Heliopolis Housing (HELI) is expected to offer an additional stake by mid-2022.

KIMA’s stock (EGCH) closed 5.05% in the green at the end of yesterday’s trading session.

Shams Abbas

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