Arabia for Assets Management and Development to begin trading on the EGX after Arab Cotton Ginning demerger in two weeks

DEMERGER WATCH- Spinoff from Arab Cotton Ginning Co. to start trading in two weeks’ time. EGX-listed Arab Cotton Ginning will spin off Arabia Asset Management and Development (AAMD) as a separate entity in two weeks’ time when AAMD starts to trade independently on the EGX, investor relations head Youssef Mohammady says. The demerger gives Arabia Cotton Ginning the core textiles business and spins off a land bank and other assets into AAMD. The Financial Regulatory Authority approved the demerger on Sunday, according to Mohammady; the General Authority for Freezones and Investment gave the green light to the transaction in January.