The “Stock Exchange” learned, from informed sources, that the “Al-Abd Group” for the manufacture of household appliances intends to list its shares In the market Small and Medium Enterprises «Nile Stock Exchange» during the first half of the current year, provided that Elite Financial Consulting is the sponsor of the listing process.
The sources pointed out that the “Al-Abd” company has completed, during the current year, a large part of the procedures for reconciling its conditions with the conditions of registration on the Egyptian Stock Exchange, and the company’s capital currently amounts to about 90 million pounds.
The company was established since 1981 with the aim of competing in the field of household appliances and their components under the name «Al-Abd Group». Since that time, it has been working as an exclusive agent for many international brands in the Egyptian market, in the field of home appliances, according to the company’s website.
The company’s products also include some durable goods and home appliances, such as automatic washing machines, top loading washing machines, dishwashers, refrigerators and freezers, cookers, water coolers and gas / electric water heaters, which are completely manufactured within a group of home appliance factories in Italy and Turkey. Some of the products are in the company’s factory in Egypt.
Al-Abd Group owns a factory in Sadat Industrial City, with an area of about 106 thousand square meters.
The stock exchange published at the end of last year, that the company Elite Consulting The Ministry of Finance aims to start procedures for offering two companies on the Nile Stock Exchange during the year 2021, in the retail and home appliances sectors.
Elite Financial Advisors represented the role of the independent financial advisor to offer the Mudaraba sukuk for the Sarwa Capital Group for the benefit of “Contact Finance” worth 2.5 billion pounds, and it also drew up a feasibility study.
The Egyptian Financial Supervisory Authority granted “Elite Financial Consulting” a year ago the first license for an independent financial advisor, in accordance with the new licensing terms, after the company was established through a consortium of experiences in the market with a capital of 945 thousand pounds in 2018.
The article “Al-Abd” begins procedures for offering its shares on the Nile Stock Exchange at the end of this May. It was written in the Stock Exchange newspaper.