EGX ready for government’s IPOs programme: Chairperson

EGX ready for government’s IPOs programme: Chairperson

Egypt - The Egyptian Exchange (EGX) is preparing to receive government offerings during this year. Egypt’s Prime Minister revealed that 32 state-run companies will be offered to the private sector through public offering or direct sale to strategic investors or both until March 2024.

The prime minister stated that the list covers 18 economic activities, and the next six months will witness the offering of at least 8 companies.

The list of companies to be offered includes El Nasr Housing and Development Company, Maadi Company for Development and Construction, El Mostakbal for Urban Development, Misr Technology Services (MTS), Misr Concrete Development Company, Helwan Fertilizers, and Egyptian Propylene & Polypropylene (EPP).

The list also includes: El Nasr Mining, Egyptian Ethylene and Derivatives Company (ETHYDCO), Haffr Petroleum Services, Egyptian Linear Alkyl Benzene (ELAB), Sinai Manganese, Egyptian Ferro Alloys, Canal Mooring and Lights Company, Port Said Container & Cargo Handling Company, Damietta Container & Cargo Handling Company, El Salhiya Investment and Development, and some hotels owned by the Ministry of Public Enterprises Sector.

Other companies are: Misr Insurance, Misr Life Insurance, Jabal al-Zeit wind station, Zaafarana wind farm, the Beni Suef power station, Chemical Industries Development (CID), Paint and Chemicals Industries (Pachin), Alamal Alsharif Plastics, and Misr