Cairo – Mubasher: Alexandria Mineral Oils Co (AMOC) has signed a contract with BNY Mellon to issue global depositary receipts (GDRs) on the London Stock Exchange (LSE).
Chairman of AMOC has also signed a deal with Baker McKenzie in London and Cairo offices to provide the company with relevant legal services to be listed on LSE’s GDRs, the oil firm highlighted in a statement to the Egyptian Exchange (EGX).
Moreover, the board approved to partner with the Petroleum Projects and Technical Consultations Co (Petrojet) to implement a concrete structure at a total cost of EGP 10.8 within ten months, with an estimated value of EGP 12.9 million for operation, the company added.
The board also agreed on dealing with Arabian Company for Oil and Derivatives to purchase 1,200 tonnes of main unrefined oils at EGP 1,095 per tonne.
In September, AMOC’s board decided to maintain regulations with BNY Mellon and Baker McKenzie to issue GDRs.
