Last Update 22:17
Friday, 15 November 2019

Egypt postpones Eastern Tobacco share offering

Reuters , Saturday 20 Oct 2018
Eastern Company
File Photo: A view of the Eastern Company SAE, which is engaged in manufacturing tobacco products, in Cairo, Egypt September 27, 2018. (Photo: Reuters)
Share/Bookmark
Views: 2734
Share/Bookmark
Views: 2734

Egypt is to postpone the offering of a 4.5 percent stake in state-owned Eastern Tobacco company <EAST.CA> due to global market volatility, the ministry of finance said in a statement on Friday.

The ministry said that a cabinet committee responsible for managing IPOs had also made the decision because of the trade war between America and China and headwinds in emerging markets.

In May, Egypt's state-owned Holding Company for Chemical Industries said it had agreed to sell part of its stake in Eastern Tobacco on the Cairo exchange.

 

Short link:

 

Email
 
Name
 
Comment's
Title
 
Comment
Ahram Online welcomes readers' comments on all issues covered by the site, along with any criticisms and/or corrections. Readers are asked to limit their feedback to a maximum of 1000 characters (roughly 200 words). All comments/criticisms will, however, be subject to the following code
  • We will not publish comments which contain rude or abusive language, libelous statements, slander and personal attacks against any person/s.
  • We will not publish comments which contain racist remarks or any kind of racial or religious incitement against any group of people, in Egypt or outside it.
  • We welcome criticism of our reports and articles but we will not publish personal attacks, slander or fabrications directed against our reporters and contributing writers.
  • We reserve the right to correct, when at all possible, obvious errors in spelling and grammar. However, due to time and staffing constraints such corrections will not be made across the board or on a regular basis.
Latest

© 2010 Ahram Online.