Al Ahly to convert 50% of their AMOC stake to GDRs

Al Ahly Capital is planning on converting 50% of their stake in Alexandria Mineral Oils Company (AMOC) into GDRs, according to Al Borsa. Al Ahly owns 25.3% of AMOC. Reports of the size of the stake Al Ahly are converting to GDRs have varied in the last few months. AMOC has already been in talks with the Bank of New York Mellon this year about their GDR issuance.