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AMOC says to offer 10-20 pct of shares in secondary listing, 10 pct as GDRs
February 9, 2017 / 9:43 AM / 9 months ago

AMOC says to offer 10-20 pct of shares in secondary listing, 10 pct as GDRs

CAIRO, Feb 9 (Reuters) - Alexandria Mineral Oils Co (AMOC) plans to offer 10-20 percent of its shares in a secondary stock market listing as well as 10 percent as Global Depositary Receipts listed in London, its chairman said.

Amr Mostafa told Reuters that AMOC would begin refining crude oil in March with a 350,000-barrel shipment at the Midor refinery. The company expects to distribute no less than 7-8 pounds per share from 2016-17 profits, he said.

The company made a first-half net profit of 545.8 million Egyptian pounds ($30.41 million) compared to 157 million a year earlier.

$1 = 17.9500 Egyptian pounds Reporting by Ehab Farouk and Abdel Rahman Adel; writing by Lin Noueihed; editing by Jason Neely

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