The Board of Directors of Qalaa Holding has delegated the company’s chairman and the Managing Director to study the possibility of issuing convertible bonds up to $200 million (or equivalent in Egyptian pounds) to reduce the company’s loans, borrowing costs, and inject capital into its subsidiaries, according to its release to the Egyptian Stock Exchange.

The board also approved studying the Initial Public Offering (IPO) of 5  subsidiaries on the Egyptian Stock Exchange over the next two years. The subsidiaries slated for the offerings are the National River Port Management Company (NRPMC), Dina Farms for Agriculture Investments, and ASEC Automation, with two other subsidiaries to be disclosed later.

This move is complemented by the board’s decision to study the full divestment of two subsidiaries and the partial sale of a stake in another subsidiary while retaining ownership. The results of all these studies will be presented to the board upon completion.

Qalaa Holding previously reported in its First Quarter (Q1) 2025 results that it aims to reduce its consolidated debt to around EGP 30 billion in Fiscal Year (FY) 2025. This target includes the payment of $300 million in the Egyptian Refining Company (ERC) senior debt and $240 million in debt owed to Qalaa Holding Refining Investment (QHRI).