(MENAFN- Daily News Egypt) Informed sources revealed to Daily News Egypt that Amer Group is considering launching a sukuk programme, with a value ranging between EGP 1.5-2bn.
The sources expected the issuance to be completed within two months, to provide financing for the company's projects.
Today, Monday, the company revealed the start of trading in the shares of“A Capital” on 22 May, at a nominal value of 30 piasters per share, after the Financial Regulatory Authority approved the process of dividing Amer Group Holding into two companies,“A Capital” and Amer Group.
The capital of“A Capital” is about EGP 270.8m, divided into 902.7 million shares.
The FRA agreed to publish the disclosure report of Amer Group Holding Company (Amer Group), for the purpose of trading 902.789 million shares, with a nominal value of 70 piasters, with a total capital of EGP 631,952m.
And“A Capital Holding” is an Egyptian joint stock company, and its purpose is to participate in the establishment of companies that issue securities or increase their capital.
The company resulting from the division will be owned by the same shareholders of Amer Group Company – the division – with the same ownership percentages for each shareholder before the implementation of the division process, and the percentage of the main shareholders, as well as the proportion of free-floating shares in the divided and divided company, will remain the same.
Amer Group will remain in existence and its issued capital will be reduced by reducing the nominal value of its shares, provided that it specializes in carrying out activities (real estate marketing – real estate investment – aviation – tourism – services – restaurants – trade – project management).
It added that the company will continue to maintain its license as a company whose purpose is to participate in the establishment of companies that issue securities or increase their capital.
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