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Thndr Claps » EGY Claps » Industrials 🏗 » Egypt Aluminum planning a $200 million capital increase 🏗

Egypt Aluminum planning a $200 million capital increase 🏗

by Omar El Shorafa
September 7, 2022
زيادة راس مال مصر للألومنيوم، ثاندر كلابس

The Clap
Egypt Aluminum (EGAL)  increase its capital by about $200 million, which represents 65% of the company’s development cost of $300 million.

The Deets
The main reason behind the capital increase is to maintain the company’s production capacity at an average of 320,000 tons annually.

Background
Sources say that the Saudi Public Investment Fund is looking to enter Egypt Aluminium as a strategic investor by acquiring a minority stake in the event that the company increases its capital.

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