{"id":629365,"date":"2018-05-29T03:41:27","date_gmt":"2018-05-29T03:41:27","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/29\/eastern-company-board-agrees-to-list-additional-4-on-egx-under-privatization-program\/"},"modified":"2018-05-29T03:41:27","modified_gmt":"2018-05-29T03:41:27","slug":"eastern-company-board-agrees-to-list-additional-4-on-egx-under-privatization-program","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/29\/eastern-company-board-agrees-to-list-additional-4-on-egx-under-privatization-program\/","title":{"rendered":"Eastern Company board agrees to list additional 4% on EGX under privatization program"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>IPO WATCH- Eastern Company board agrees to list additional 4% on EGX under privatization program:<\/strong> Eastern Tobacco\u2019s board has agreed to offer for sale an additional 4% of the company on the EGX under the state\u2019s privatization program, Public Enterprises Minister Khaled Badawy said yesterday, <a href=\"https:\/\/www.reuters.com\/article\/easterntobacco-egypt\/update-1-egypt-to-sell-up-to-4-pct-of-eastern-tobacco-stake-on-cairo-exchange-idUSL5N1SZ1XT\">Reuters reports<\/a>. The Chemical Industries Holding Company (CIHC) had <a href=\"https:\/\/enterprise.press\/stories\/2018\/03\/27\/cihc-to-sell-only-4-of-eastern-tobacco-company-maintain-controlling-stake\/\">said in March<\/a> that it would sell no more than 4% of its stake in Eastern Company. The move would ensure the CIHC retains a 51% stake, with 49% of the cancer-maker in free float. Proceeds from the sale will be retained by CIHC to fund the restructuring of other companies in its portfolio. The timeline for the transaction remains unclear. Eastern is likely to be among the first of <a href=\"https:\/\/enterprise.press\/stories\/2018\/05\/16\/govt-hopes-to-raise-egp-15-18-bn-from-first-phase-of-privatization-program-between-june-2018-and-early-2019\/\">23 state-owned companies<\/a> that will IPO or sell additional shares on the EGX starting as early as this summer.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>IPO WATCH- Eastern Company board agrees to list additional 4% on EGX under privatization program: Eastern Tobacco\u2019s board has agreed to offer for sale an additional 4% of the company on the EGX under the state\u2019s privatization program, Public Enterprises Minister Khaled Badawy said yesterday, Reuters reports. The Chemical Industries Holding Company (CIHC) had said [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-629365","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"aeefaf94-26c7-478b-8f17-190866c3305e","order":"0","is_powered_by":true,"section_story_id":"7733a2f0-76d0-4c8a-ab2e-d8ac16e3ff29","story_type":"1","photo_url":"","photo_position":"above","related_issue":[629355],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Eastern Company board agrees to list additional 4% on EGX under privatization program - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/29\/eastern-company-board-agrees-to-list-additional-4-on-egx-under-privatization-program\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Eastern Company board agrees to list additional 4% on EGX under privatization program\" \/>\n<meta property=\"og:description\" content=\"IPO WATCH- Eastern Company board agrees to list additional 4% on EGX under privatization program: Eastern Tobacco\u2019s board has agreed to offer for sale an additional 4% of the company on the EGX under the state\u2019s privatization program, Public Enterprises Minister Khaled Badawy said yesterday, Reuters reports. The Chemical Industries Holding Company (CIHC) had said [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/29\/eastern-company-board-agrees-to-list-additional-4-on-egx-under-privatization-program\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-05-29T03:41:27+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/29\/eastern-company-board-agrees-to-list-additional-4-on-egx-under-privatization-program\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/29\/eastern-company-board-agrees-to-list-additional-4-on-egx-under-privatization-program\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Eastern Company board agrees to list additional 4% on EGX under privatization program\",\"datePublished\":\"2018-05-29T03:41:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/29\/eastern-company-board-agrees-to-list-additional-4-on-egx-under-privatization-program\/\"},\"wordCount\":151,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/29\/eastern-company-board-agrees-to-list-additional-4-on-egx-under-privatization-program\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/29\/eastern-company-board-agrees-to-list-additional-4-on-egx-under-privatization-program\/\",\"name\":\"Eastern Company board agrees to list additional 4% on EGX under privatization program - 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Among the three, sources named our friends at Pharos Holding and AAIB\u2019s Arab African Investment Holding. The rival firms have reportedly met with\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":631769,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/27\/cihc-to-sell-only-4-of-eastern-tobacco-company-maintain-controlling-stake\/","url_meta":{"origin":629365,"position":2},"title":"CIHC to sell only 4% of Eastern Tobacco Company, maintain controlling stake","author":"enterpriseam admin","date":"27 March 2018","format":false,"excerpt":"IPO WATCH- CIHC to sell only 4% of Eastern Tobacco, will keep a controlling stake: The Chemical Industries Holding Company (CIHC) is planning to sell only 4% of its stake in the Eastern Tobacco Company under the state\u2019s IPO program and retain a controlling 51% stake, CIHC Chairman Emad El\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":627296,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/29\/cihc-hopes-to-raise-over-egp-3-bn-from-sale-of-stake-in-eastern-company-abu-qir-fertilizers\/","url_meta":{"origin":629365,"position":3},"title":"CIHC hopes to raise over EGP 3 bn from sale of stake in Eastern Company, Abu Qir Fertilizers","author":"enterpriseam admin","date":"29 July 2018","format":false,"excerpt":"CIHC hopes to raise over EGP 3 bn from sale of stake in Eastern Company, Abu Qir Fertilizers: The Chemical Industries Holding Company (CIHC) is hoping to raise more than EGP 3 bn from the sale of stakes in Eastern Company and Abu Qir Fertilizers on the EGX later this\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":623270,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/25\/sale-of-egypts-eastern-company-to-take-place-as-soon-as-market-conditions-improve-public-enterprise-minister\/","url_meta":{"origin":629365,"position":4},"title":"Sale of Egypt\u2019s Eastern Company to take place as soon as market conditions improve -Public Enterprise Minister","author":"enterpriseam admin","date":"25 October 2018","format":false,"excerpt":"** #5 IPO WATCH- Eastern sale to take place as soon as market conditions improve: The sale of an additional 4.5% stake in the Eastern Tobacco Company on the EGX will take place as soon as stock market conditions improve, Public Enterprise Minister Hisham Tawfik said yesterday, denying our exclusive\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":621846,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/19\/egypts-eastern-tobacco-stake-sale-is-in-the-offing-as-share-price-recovers\/","url_meta":{"origin":629365,"position":5},"title":"Egypt\u2019s Eastern Tobacco stake sale is \u201cin the offing\u201d as share price recovers","author":"enterpriseam admin","date":"19 November 2018","format":false,"excerpt":"IPO WATCH- Eastern Tobacco stake sale is \u201cin the offing\u201d as share price recovers: The sale by the state of an additional 4.5% stake in the Eastern Tobacco Company on the EGX is \u201cin the offing,\u201d Public Enterprises Minister Hisham Tawfik said yesterday, according to Al Mal. 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