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Monday, 15 May 2017

Green Valley mulls EGX listing, nears agreement with EFG Hermes -Chairman

IPO WATCH- Green Valley Group is looking to list on the EGX in the upcoming period, Chairman Sayed El Sammak told Al Mal. Green Valley plants, processes, and exports peanuts and owns agricultural, cleaning and sizing, processing, financial, and trading subsidiaries. There is no exact date for the planned listing, but El Sammak says it would be by 2018 at the least, and that the company is nearing an agreement with EFG Hermes to run the transaction. The company will use the proceeds of the capital increase to expand its investment in land reclamation and purchase land in East Owainat. According to Al Mal, the El Sammak family are the largest shareholders of Green Valley. Other shareholders include Saudi investors Abdul Monem Al Rashed and Walid Abunamay, who control 23% and 11%, respectively, and Catalyst Partners, which holds 3% of Green Valley’s shares.

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