Shares of 2 Egyptian companies to be offered to strategic investors

Shares of 2 Egyptian companies to be offered to strategic investors

Shares of 2 Egyptian companies to be offered to strategic investors

Shares of 2 Egyptian companies to be offered to strategic investors

Shares of 2 Egyptian companies to be offered to strategic investors

Egyptian Planning and Economic Development Minister Hala Al-Saeed

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Shares of 2 Egyptian companies to be offered to strategic investors

The initial market offering is among the targets that the fund is looking for, and it will be considered bilaterally with partners who enter these opportunities

Updated 22 December 2020

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CAIRO: Egyptian Minister of Planning and Economic Development Hala Al-Saeed said that the army is planning to put up two of its subsidiaries for sale at some point during the first quarter of the new year, in a move aimed at increasing the participation of the private sector in the economy.

In an interview with Egyptian TV, the minister added that the shares of the two companies may be offered at first to strategic investors, with the remaining percentages sold in an initial public offering.

"We will make a decision in the first quarter of this year. There are three other companies that I will not announce,“ she said.

The two companies, owned by the army's National Service Projects Organization NSPCO, are the National Petroleum