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

Ispire and IKE Tech Welcome FDA Enforcement Boost, Highlight Need for Tech-Based Controls

Ispire Technology and IKE Tech issued statements after the U.S. FDA received Congressional funding and directives to strengthen enforcement against illicit vaping products. The companies emphasized updated guidance, multi-agency coordination and the role of blockchain and age-verification technologies in preventing illegal imports and protecting youth.

Nov.20

Altria Q3 2025 Earnings Report: Net Revenue of $6.072 Billion and Launch of on!PLUS in the U.S.

Altria reported Q3 2025 net revenue of $6.072 billion, a 3.0% year-on-year decline. Adjusted EPS increased 3.6% to $1.45. The company expanded its share repurchase program to $2 billion and launched the on!PLUS nicotine pouch in Florida, North Carolina, and Texas.

Oct.31 by 2FIRSTS.ai

Co-op Faces Backlash Over Vape Promotion Strategy Post-Cyberattack

The Guardian reports that UK retailer Co-op is ramping up vape promotions to recover sales lost after an April cyberattack. Internal documents cite a £1M weekly sales gap and 100,000 fewer transactions. Staff say the move contradicts Co-op’s “ethical retail” image, as the government prepares to ban vape ads under the Tobacco and Vapes Bill.

Oct.28 by 2FIRSTS.ai

British American Tobacco’s VELO Launches Limited McLaren F1 Edition: US Price Only 60% of EU/UK

BAT’s VELO has released a McLaren F1 co-branded, track-themed limited-edition pack in McLaren’s orange-black livery. Pricing is about $4.60 per can in the U.S. versus ~$7.40 in the EU/UK. The collaboration extends BAT’s partnership with McLaren dating back to 2019.