EPPC seeks to raise $300 mln from IPO to finance petrochemical production capacity expansions

The Egyptian Propylene & Polypropylene Company (EPPC) is planning to raise about $300 million from the company's IPO in Q1-2018, Karim Saada, as per Daily News Egypt. The planned IPO aims to finance EPPC’s petrochemical expansions  - by increasing production capacity from 290000 to 600000 tonnes in the next 3-4 years. The Egyptian Propylene & Polypropylene Company (EPPC) propylene / polypropylene (PP) complex is located in Port Said in Egypt, about 170km north-east of Cairo.

EPPC is planning to invest total $1 bln in expansion during the first quarter of next year. The expansion will be funded through a capital increase and debt instruments.
The shareholders in EPPC include Egyptian business tycoon Mohamed Farid Khamis, the Egyptian General Petroleum Corporation (EGPC), Amwal AlKhaleej, DISA Ltd., Amwal AlKhaleej, Arab Investment Company, and Oriental Petrochemical Co.

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