Nahr Al Khair for Development & Agricultural Investment (KRDI) has completed the listing of a 61.5% stake on the EGX database.
Backstory🔙 KRDI was one of three companies in which the FRA agreed to list its shares on the EGX database, followed by the EGX’s approval.
More on KRDI🧐 KRDI operates in the field of land reclamation & cultivation, as well as the sale of agricultural products. The company is part of the “1.5 Million Feddans” project, & owns about 8,665 acres.
KRDI plans to reclaim about 1,000 acres during 2022, which is the process of creating new land from oceans, seas, or other water bodies, at an investment cost of about EGP 80 million, according to the company’s Managing Director Ahmed El Sayed. He also disclosed that KRDI pumped almost EGP 100 million worth of investments in 2021.
Why is this Important🤔 The listing doesn’t mean that it’s tradable yet, but rather that it’s registered on the EGX database. El Sayed noted that trading will immediately start following the FRA’s approval of a fair value study of KRDI.
