Egypt to list 10 state-owned companies before year-end: finance minister

Egypt is planning to offer shares in 10 state companies on the stock exchange before the end of the current year, Finance Minister Mohamed Maait told Al-Arabiya on Wednesday.

The minister did not give details about the names of these companies or the timing of each initial public offering (IPO).

The government had planned to offer shares in four to six companies in the financial year that ended last month, but Public Enterprise Minister Hisham Tawfik said last May that the sales would be delayed once again until September.

Since the outbreak of the Russian war in Ukraine, Egypt has been searching for more ways to allure foreign exchange and investors.