Abdulnasser Bin Kalban, CEO of Emirates Global Aluminium (EGA) said that the company is considering a domestic initial public offering (IPO). Due to the strong global demand, EGA has oversold its aluminum production for next year.
In the first half of 2021, EGA sold around 1.18 million tons of cast metal to customers in more than 50 countries, compared to a total metal sales volume of 2.52 million tons last year.
EGA CEO predicted that the profit this year is likely to hit a record high, and the performance will be even better next year.
EGA was scheduled to discuss the IPO plan next January, and the percentage of the IPO will be decided by shareholders.
Emirates Global Aluminium considering initial public offering
25 Nov 2021 14:32 reported by Joy Liu
- A
- A
- A