- Arab Cotton Ginning plans to raise up to USD 4.2M by listing its subsidiary, Misr Spinning & Weaving, on EGX.
- Minimum IPO stake is 25%, targeting at least EGP 25M, with maximum proceeds aimed at EGP 200M.
- Funds will support new production lines, modern technology upgrades, and investments across other ACGC group companies.
Misr Spinning & Weaving
Arab Cotton Ginning Company (ACGC) is targeting around USD 4.2 million (EGP 200M) by listing its subsidiary, Misr Spinning & Weaving, on the Egyptian Exchange (EGX).
In an interview with Asharq Business, Mohamed Negm Eldin, Managing Director of Arabia Cotton Ginning Company, explains that the minimum stake under consideration for the IPO is 25% of the subsidiary’s shares. He further notes that the company aims to raise at least EGP 25 million (USD 525.5K). Additionally, it strives to reach a maximum target of around USD 4.2 million (EGP 200M).
IPO
The Managing Director also adds that the IPO file has been submitted to the Egyptian Exchange. In addition, coordination with relevant authorities is underway to complete the procedures. Furthermore, the company expects the offering to take place in the first quarter of 2026.
Negm Eldin also indicates that part of the IPO proceeds will be allocated to increasing the subsidiary’s capital. This aims to fund the development of new production lines and the introduction of modern technologies in spinning and weaving activities. Meanwhile, the remaining funds will be invested across other companies in the Arab Cotton Ginning Company (ACGC).
If you see something out of place or would like to contribute to this story, check out our Ethics and Policy section.
