The source added that InterCairo has retreated from offering its shares due to the high costs of listing shares and the measures of determining the fair value of stocks since 2015. He continued that the world prices of aluminium dropped significantly, which has forced the company to retreat from offering its shares on the EGX. The source said that the owners of InterCairo decided to freeze the company’s expansion plans and be content with the current production rate of its factories. The company seeks to adapt itself to the current financial, monetary, and economic conditions in the local market, while maintaining minimum profitability. He pointed out that this move aims to provide funding for the company’s future expansions and add new production lines at the company’s factories.

Source: Daily News Egypt October 23, 2016 07:52 UTC