Egypt’s biggest garment exporter, Giza Spinning & Weaving, plans to sell as much as 40 percent of the company in an initial public offering to help finance its expansion plans.
The Cairo-based company will list the shares on the local stock exchange in November and will use some of the proceeds to finance the 250-million Egyptian pound ($14 million) expansion of its garments and yarn production, co-Chief Executive Officer Fadel Marzouk said in an interview.
