Egyptian fertilizer company Evergrow is planning to sell a 25 percent stake in an IPO on the EGX by the end of 2021 amid coronavirus, according to Chairman Mohamed El Kheshen. He told Amwal al Ghad that the company will wait until the sector recovers from the after effects of coronavirus economic fallout. El Keshen said that the fertilizers sector has experiences a lower demand as export rates have shrunk by 37 percent during the current period, explaining that it is expected to recover by mid 2021. The planned IPO is to provide additional financing tools to enhance the company's capabilities towards continuing its expansion projects in the market, which include the establishment of two projects in Aswan and Sadat City on an area of 920 thousand metres with investments amounting to about 19 billion Egyptian pounds.
