Alexandria Container & Cargo Handling

Alexandria Container and Cargo Handling Company, a subsidiary of Holding Co. for Land & Maritime Transport, is an Egypt-based public shareholding company that operates in the marine port services sector. The Company specializes in container and cargo handling in Egyptian ports. It operates two terminals, one at Alexandria port and another one at El Dekheilla port. Both terminals comprise of import and export yards, hazardous yard, operations building, security building, workshops, storage areas, customs areas and fuel stations. Alexandria Container and Cargo Handling Company also offers other marine port services, such as land transportation of goods and containers, internal licensing arrangements and customs clearance.
Financial Performance:
In October 2010, ALCN.s EGM approved issuing new shares to the public in the amount of 236,736, through which the company.s capital will reach 24,880,000 shares. The shares were valued at a total of EGP33,143,040, equivalent to EGP140/share, as per the valuation completed by its independent financial consultant. The new shares are earmarked for increasing ALCN.s free float from the current 4.3% to 5.2% in order to comply with the Egyptian Exchange (EGX).s listing rules.