ArabFinance: The Egyptian Exchange (EGX) announced on June 2nd buying back 439,150 shares of Nile Cotton Ginning (NCGC) at EGP 21.958 million, according to the EGX's disclosure.
Nile Cotton Ginning's board of directors approved voluntary delisting from the Egyptian Exchange, in light of IMEX International’s mandatory tender offer.
NCGC incurred a net loss of EGP 3,057,649 in the first nine months of 2020.
Nile Cotton, a subsidiary of Holding Company for International Trade and Cotton, is an Egypt-based public shareholding company that operates in the cotton and textiles sector. The unit is primarily engaged in cotton ginning, trading, and exporting.
