Next Tuesday, the start of trading of the shares of “Nahr Al-Khair” on the Egyptian stock exchange

Nahr Al-Khair Company for Development and Agricultural Investment is preparing to begin trading its shares on the Egyptian stock exchange, with a 61.5% stake in its capital, this week.

The CEO of “Nahr Al-Khair” company, Ahmed Sayed, said that the company’s shares will begin trading on the Egyptian stock exchange next Tuesday, and is the first company with a 1.5 million feddan reclamation project. to be listed on the market capital, as an easy financing tool for the entry and exit of investors.

Sayed added that the company started its business in 2011 and the number of its shareholders was 28 and currently their number is 466, according to the newspaper “The Egyptian Stock Exchange”.

The chief executive noted that the company’s capital started at £ 2 million in 2011, reaching £ 200 million today, reflecting investor confidence in accessing the company’s capital increases.

The company has set the fair value at £ 300 million and the share will start trading at 25 piastres.

The company aims to achieve sales growth of up to £ 130 million in 2022, compared to £ 87 million in sales.

Sayed explained that the company aims to complete the reclamation of 5,138 feddan it owns in a 1.5 million feddan project in West Minya by the end of 2024.

He said the company has reclaimed about 2,500 acres with plantations of Spanish sugar beet, corn, lemon, olives and figs, and has also contracted with the Savola Food Company to plant 250 acres for sugar beet and 1,000 acres for the Canal Sugar Company.

The Nahr Al-Khair Company for Development and Agricultural Investment achieved pre-tax profits at the end of September 2021 worth £ 27 million, compared to pre-tax profits of £ 10.8 million for the year 2020.

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