Egypt .. Billion pound bonds for a company that invests in electric cars

The National Automobile Company “NATCO” has signed an agreement with Beltone Company to promote and hedge the underwriting, one of the Beltone Financial Holding companies, to become the financial advisor for the issuance of bonds in the Egyptian market worth billion pounds, and this part of this supply will be allocated to green bonds to develop in the field of electric cars and manufacture chargers, cars, charging stations, distribution centers and after-sales services .

“Nanco” is the first company in Egypt to study the issuance of green bonds, while the company intends to offer part of its shares on the Egyptian Stock Exchange.

Group CEO Yasser Saleh said “Natco” will issue bonds worth £ 1bn in the coming period to fund expansion in distribution centers and services after. -sale for the distribution network of Mercedes-Benz cars in many locations in light of the signing of the new distribution agreement with the company.

In addition, the company intends to expand into the field of electric car sales, distribution, maintenance and charging by starting to establish a network of regular, fast and high-speed charging stations to support charges all types of European, Chinese and American charging protocols in all the governorates of the Republic in order to support the international and local trend in the field of transformation towards sustainable electric transport solutions.

The company plans to provide a set of innovative technical solutions for the first time in Egypt and the region to facilitate and encourage consumers to own and use electric cars of all types and categories.

The group is currently studying the manufacture of electric car chargers with local and international partners for private and public use through the industrial branch of the group represented by the Egyptian German Automotive Company (EGA). It currently manufactures Mercedes-Benz four-wheel drive passenger cars in Egypt.

He explained that the group’s strategic plan is based on keeping pace with the rapid changes in the world of car manufacturing and distribution while providing highly advanced technological solutions to enable the Egyptian consumer to benefit from the advanced electric car technology and providing an extensive charging network. in stages in all governorates.

He pointed out that the company is studying the possibility of offering part of its shares for public subscription in order to increase the investor base of the company and obtain the greatest value and benefit for the current shareholders and future. Through this step, it also aims to open up broad prospects for obtaining financing for its current and future operations.