Thndr Claps » EGY Claps » Industrials 🏗 » Egypt Aluminum planning a $200 million capital increase 🏗
The ClapEgypt Aluminum (EGAL) increase its capital by about $200 million, which represents 65% of the company’s development cost of $300 million.The DeetsThe main reason behind the capital increase is to maintain the company’s production capacity at an average of 320,000 tons annually.BackgroundSources 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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