Arab Finance: The Egyptian Ministry of Public Business Sector is in talks with several investors to develop the Chemical Industries Development (CID) company by increasing its capital, public business sector minister Mahmoud Esmat told Asharq Business on June 11th.
Esmat ruled out the possibility of offering CID on the Egyptian Exchange (EGX) as a first option.
He said that the ministry is currently negotiating with investors to develop two pharmaceutical firms, including CID. He did not disclose the name of investors.
It is worth mentioning that CID is wholly owned by HoldiPharma.