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Thndr Claps » EGY Claps » IPO Watch 👀 » Delemar Aluminum plans big investments; hints at IPO🔔

Delemar Aluminum plans big investments; hints at IPO🔔

by Shams Abbas
March 20, 2022

The Clap
Delemar Aluminum, one of the biggest aluminum producers in Egypt, has set big investment plans, as well as hinted at a possible EGX IPO.

Investment plans
Delemar plans to double its investments within the coming five years. The company plans to invest some EGP 750 million in a new factory in Sadat City, with construction expected to kick off later this year & take up to three years for completion.

The news comes after the company recently announced an EGP 600 million investment to build a processed glass factory in Sixth of October city.

Possible IPO
Delemar’s CEO Mahmoud Haroun said the company will discuss a possible IPO next year on the EGX in a general assembly meeting later this year. Discussions are still in a very early phase, & no details on the deal have yet been announced.

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