Cairo – Mubasher: Egypt is aiming at offering shares in eight to 10 state-owned companies on the Egyptian Exchange (EGX) within 18 months, finance minister Amr El-Garhy told Reuters on Sunday.
The government is launching an initial public offering (IPO) programme, on which several state-run companies will sell shares in IPOs on the EGX over the coming three to five years in the fields of oil, services, chemicals, shipping and real estate, according to the news agency.
In August 2017, investment minister Sahar Nasr said that Engineering for the Petroleum and Process Industries’ (ENPPI) IPO was set to be launched in the first quarter of 2018.
Egypt is seeking to lure about $10 billion investments through the government IPO programme over the next three years.
