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Wednesday, 5 February 2020

Egypt Gold to debut on EGX this year -chairman

IPO WATCH- Egypt Gold gears up for EGX debut this year: Egyptian jewelry brand Egypt Gold plans to IPO on the EGX sometime in 1H2020, Chairman Mostafa Nassar told Al Mal, without providing details on the value of the offering or a specific timeframe. The company made the announcement as it inaugurated its first gold chain factory in Obour City, which is expected to produce 1 tonne of jewelry each month.

Is an agreement with Centamin in the making? Nassar said that the company has contacted Centamin to request purchasing the entire annual production from its Sukari mine in the Eastern Desert. Centamin did not immediately respond to Enterprise’s request for comment.

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