Egypt’s Minister of Finance, Mohamed Maait, has announced that a further 20% of the Alexandria Mineral Oils Company (AMOC) will be offered on the Egyptian Exchange Market (EGX), according to Al Masry Al Youm.

The ministry expects that the offering will generate around EGP 2.8 billion, Reuters also reported.

AMOC chose British bank HSBC to manage its share sales on the Egyptian Exchange later this year, a source close to the transaction told Enterprise on September 10.