The board of directors of Atlas for Investment and Food Industries (AIFI) approved to list its subsidiary, Atlas Siwa for Land Reclamation, on in the Egyptian Exchange (EGX) for SMEs, NILEX, the company stated in a filing to EGX on March 18.
The company authorized its managing director to handle negotiations with registration agents and one of the official sponsors, in addition to studying the proposed offers.
The managing director suggested offering the company for the sake of expansion and growth.
The board also authorized its managing director to contact a consulting office to work on the designs of the medical center to be established in Zayed city to obtain the necessary approvals.
The listed company reported a 7% Year on Year fall in its consolidated net loss in 2020, suffering EGP 571,702.
Atlas, established in 1997 and listed in 2012, has four subsidiaries focusing on real estate, farm development, and agricultural processing.
