Eastern Company's Shares Purchased in EGX for 2.05 billion EGP

Business by 2FIRSTS.ai

Dec.29.2023

Eastern Company's Shares Purchased in EGX for 2.05 billion EGP

Egypt's main state-owned tobacco producer, Eastern Company, sold 734,600 shares for EGP 2.05 billion to investors on December 28th.

The Egyptian Exchange (EGX) announced on December 28th that investors have purchased 734,600 shares from Eastern Company, the leading state-owned tobacco manufacturer in Egypt. The total purchase amount reached EGP 2.05 billion (approximately $66.55 million). This share purchase represents 3.3% of the company's total capital, as Eastern Company currently possesses a total of 2.23 billion shares.

The Oriental Company has always been an important target for foreign investors in Egypt. Currently, it is listed as one of the 35 companies scheduled for partial or full privatization by the government. In November of last year, the UAE-based International Holding Company (Global Holding) acquired a 30% stake in the Oriental Company for 16.4 billion Egyptian pounds (approximately $53.086 million).

After this transaction is completed, the remaining shareholders of the company will include the state-owned chemical industry holding company (accounting for 20.9%), Allan Gray Equity Fund (accounting for 7.2%), the shareholders meeting of Oriental Tobacco Company (accounting for 6%), and free float shares (accounting for 36%).

Also Read:

[1] Complaint Filed by JTI Against Egyptian Tobacco Monopoly

[2] Philip Morris Egypt Adjusts Prices of Tobacco Products

[3] Revised VAT Bill Approved in Egypt, Expecting Cigarette Price Increase

#Traditional tobacco #Market #Africa #Egypt

We welcome news tips, article submissions, interview requests, or comments on this piece.

Please contact us at info@2firsts.com, or reach out to Alan Zhao, CEO of 2Firsts, on LinkedIn

Notice

1. This article is intended solely for professional research purposes related to industry, technology, and policy. Any references to brands or products are made purely for objective description and do not constitute any form of endorsement, recommendation, or promotion by 2Firsts.

2. The use of nicotine-containing products — including, but not limited to, cigarettes, e-cigarettes, nicotine pouchand heated tobacco products — carries significant health risks. Users are responsible for complying with all applicable laws and regulations in their respective jurisdictions.

3. This article is not intended to serve as the basis for any investment decisions or financial advice. 2Firsts assumes no direct or indirect liability for any inaccuracies or errors in the content.

4. Access to this article is strictly prohibited for individuals below the legal age in their jurisdiction.

Copyright

This article is either an original work created by 2Firsts or a reproduction from third-party sources with proper attribution. All copyrights and usage rights belong to 2Firsts or the original content provider. Unauthorized reproduction, distribution, or any other form of unauthorized use by any individual or organization is strictly prohibited. Violators will be held legally accountable.

For copyright-related inquiries, please contact: info@2firsts.com

AI Assistance Disclaimer

This article may have been enhanced using AI tools to improve translation and editorial efficiency. However, due to technical limitations, inaccuracies may occur. Readers are encouraged to refer to the cited sources for the most accurate information.

We welcome any corrections or feedback. Please contact us at: info@2firsts.com

British American Tobacco’s Irish unit says VELO pouch sales hit 29m, net revenue climbs to €33.75m

British American Tobacco’s Irish subsidiary PJ Carroll & Co Ltd reported that sales of its Velo nicotine pouches nearly quintupled in 2024 to 29 million units, driving an 11% year-on-year increase in net revenue to €33.75 million. However, amid a heavy tax burden and declining traditional cigarette volumes, the company’s pre-tax profit fell 8% to €5.69 million.

Dec.01 by 2FIRSTS.ai

Chonburi Police Raid Major E-Cigarette and Vape Liquid Warehouse Worth Over US$920,000

Thailand Chonburi provincial police, in coordination with multiple agencies, raided a large-scale warehouse in downtown Chonburi used for producing and distributing e-cigarettes and vape liquids. Two Chinese nationals were arrested, and more than 40 categories of contraband—including vapes, e-liquids, and production equipment—were seized, with an estimated total value exceeding US$920,000 (about 30 million Thai baht).

Nov.17 by 2FIRSTS.ai

SKE’s Parent Company Yinghe Technology Reports 80% Drop in Q3 Net Profit, Revenue Up 22.85% Year-on-Year

Yinghe Technology (SZ: 300457), parent company of SKE, saw Q3 net profit plunge 80.3% to 31.06 million yuan, while revenue rose 22.85% to 2.52 billion yuan. The decline was mainly driven by higher costs and expenses.

Oct.28 by 2FIRSTS.ai

China’s E-Cigarette Exports Rise to USD 1.098 Billion in October 2025, Up 23.7% Year-on-Year as U.S. Demand Surges

China’s e-cigarette exports reached USD 1.098 billion in October 2025, rising 24.8% month-on-month and 23.7% year-on-year, according to the latest data released by the General Administration of Customs of China. Export concentration increased to 83.11%, with the U.S. market contributing the largest share of monthly growth.