ATICOT to list up to 50% of shares in 2019

IPO WATCH- ATICOT looking to list up to 50% of shares in 2019: The Arab Trade, Investment & Cotton Trading Company (ATICOT) is reportedly looking list up to 50% of the company on the EGX in 2019, company chairman Ezz El Din El Dabbah tells Al Mal. The company plans to sell shares over two phases — it will list a 25% stake on the EGX in 1Q2019, with the remaining shares being sold before the end of the year, says El Dabbah. The company is looking to use the proceeds of the IPO, which it had been planning since 2017, to fund a shift toward real estate development and manufacturing and away from planting cotton, which El Dabbah says has witnessed a downturn. The company still plans to retain its cotton line of business as part of a holding company that will operate in cotton, real estate and the cement sector. It has not yet been reported if the company has selected an adviser.