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First you break the profits, then you IPOMENA

First you break the profits, then you IPO

Emirates Global Aluminum (EGA) has reported $473.7m in profits for the first half of 2021 — the strongest ever since the company’s foundation back in 2013. Just 12 months ago, EGA reported a $57m loss for the same period (talk about an impressive comeback). The revenue numbers are also looking good, with $2.9b earned in H1 of 2021, compared to $2.6b cashed in H1 of 2020.

The company’s CEO, Abdulnasser Bin Kalban, is now hinting at a potential IPO — “Our performance will continue to improve, making EGA increasingly attractive should our shareholders decide to proceed with an IPO.”

why it matters

The CEO appears to be already working in the IPO direction, having made the company more attractive through several upgrades across manufacturing facilities.