ACGC plans to invest EGP30mn on machinery during 2019, 2020
Arab Cotton Ginning Co. [ACGC EY] announced that it is planning to invest EGP30mn to purchase new ginning machinery. According to the release, this capex plan will be executed across two years. It is worth noting that we have already assumed capex of EGP36mn and EGP42mn in 2019 and 2020, respectively.
Ahmed Hazem Maher
Arab Cotton Ginning: EGP2.09 as of 16 Apr. 2019, Rating: Buy, TP: EGP3.50/share, MCap: USD32mn, ACGC EY/ACGC.CA
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