The Al-Abd Group intends to list its shares on the Egyptian Exchange’s (EGX) SMEs market, known as the Nile Stock Exchange (NILEX), during the first half (H1) of 2021, informed sources have told Daily News Egypt.
The group’s listing will take place with Elite Financial Consulting serving as manager of the listing process.
The sources pointed out that, during the current year, the Al-Abd Group has completed the bulk of the procedures for reconciling its situation with the conditions of registration on the stock market. The company’s capital currently stands at about EGP 90m.
The company was established in 1981 under the name of Al-Abd Group, with the aim of competing in the field of household appliances and their components.
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.
The company’s products also include some durable goods and home appliances, including automatic washing machines and top loading washers, dishwashers, refrigerators and freezers, cookers, and water heaters.
These items are completely manufactured within a group of home appliance factories located in Italy and Turkey, with some of the products also produced in the company’s factory in Egypt.
The Al-Abd Group owns a factory in Sadat Industrial City, which covers an area of about 106,000 sqm.
