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Egypt Garment Exporter Giza Spinning Plans November IPO in Cairo

  • Giza to sell as much as 40 percent of company in share sale
  • Company is investing 250 million Egyptian pounds to expand

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.