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Egypt will start its initial public offering programme for some state-owned firms during the fourth quarter of this year, minister of planning Hala al-Saeed said Wednesday.
The government announced in 2016 launching an IPO programme that will offer shares in dozens of state-owned companies over the next three to five years in areas including oil, services, chemicals, shipping, and real estate, in addition to some banks.
The last time state-owned companies were listed on the exchange was in 2005 when shares of Telecom Egypt, the state’s landline monopoly, and oil companies Sidi Kerir Petrochemicals and AMOC were floated.
