Confirm Hani Aman The head of the eastern smoke company, that at such a time of the year a strange thing happens, which is the turnout Merchants To buy large quantities of cigarettes, because of the rumor that Cigarettes Its price will rise on July 1 because of the tax increase, " said 5-year-old at the company with the same story.
Hani said in a telephone intervention to The “Citizen” Program on the “event today” satellite on Tuesday evening, that the month of June every year there is an excess demand for cigarettes, followed by the targeting of the state for another amount of taxes, and the company is aware of this and provides the quantities needed by the market.
About the company's presence within the government's IPO program: "about 50 % of the company's shares have been listed on the stock exchange for a while, and when the company entered the end of 2018, the company was in the business sector and follows the holding company for chemical industries, and the holding company gets 55% of the shares, and the goal of my presence was the previous IPO program in 2018 and that the company is turning into a private sector, Which was done after the holding company sold 4.5% of its shares in February 2019”.
He added:”We have been on the stock exchange before and we turned into a private sector company in 2019, and the holding company for Chemical Industries owns about 50.5% of the company's shares, and today I was participating in the Capital Markets Conference and the address was the offering, and I was asked about the readiness of the company, and confirmed our readiness.
“Aman " stressed that Eastern smoke company He said:”We have worked on an offer program and the offer and the transformation that has taken place in the company over the past 5 years has made it a model that should be considered, in a company that is one of the most important companies that existed in the business sector and the Egyptian state still owns a large part of it".
He continued: "as an existing board of directors and with the new executive management, we succeeded in achieving international indicators of production and distribution in a local company from the nerve of the business sector, which confirms the success that has happened, "stressing:" We are the first supplier to the state treasury of about 65 billion pounds, which the smoke sector pays, which amounts to about 88 billion pounds and all that we sell more with more Nord and we pay customs and income tax “.
Source : Masrawy website
