Egypt advances IPO program with eight new state-owned companies

CAIRO - 5 May 2026:  Hashem El-Sayed, Assistant to the Prime Minister and CEO of the State-Owned Enterprises (SOE) Unit, announced that eight additional state-owned companies are currently being prepared for listing on the Egyptian Exchange, as part of the government’s ongoing IPO program.

During a meeting of the ministerial economic group led by Prime Minister Mostafa Madbouly, El-Sayed noted that the program originally aimed to offer around 20 companies affiliated with former public business sector holding entities. To date, 12 companies have already been listed, with work underway to bring eight more to market.

He explained that the listed firms fall under key holding companies, including those in chemical industries, metallurgical industries, and construction and development. Alongside this, preparations are also in progress to list 10 companies from the petroleum sector.

The meeting also addressed a number of pressing economic priorities, including Egypt’s preparations for the seventh review of its economic reform program, implemented in collaboration with the Central Bank of Egypt and the International Monetary Fund.

Prime Minister Madbouly reiterated the government’s commitment to strengthening private sector participation in economic activity, positioning the IPO program as a central pillar of this strategy. He added that financial valuation studies for a new group of projects expected to be offered before the end of the current fiscal year are close to completion.

Minister of Planning and Economic Development Ahmed Rostom highlighted the main pillars of Egypt’s cooperation plan with the World Bank over the next two years. The plan focuses on supporting small-scale farmers, generating employment in the agricultural sector, and advancing technology and artificial intelligence, in addition to restructuring state-owned enterprises and expanding social housing initiatives.

Osama El-Gohary, Head of the Information and Decision Support Center, reviewed recent updates to the State Ownership Policy Document. The revised framework introduces a clearer definition of the state’s future role across sectors—whether through exit, continued ownership, or partnerships—while incorporating investor feedback within a structured monitoring system.

The updated document also integrates social, environmental, and climate considerations, and establishes formal mechanisms for stakeholder engagement, including systems to receive and address investor feedback and complaints.

El-Sayed further outlined a new methodology being developed to manage the IPO program more effectively. This approach includes creating a comprehensive national framework for classifying and governing state-owned companies, ensuring readiness for listing, appointing external auditors for financial transparency, and engaging independent advisors to determine fair valuations.

Under this system, a leading investment bank will be selected to manage and market each offering, with IPO size and timing determined based on market conditions and regulatory factors. The process is designed to ensure transparency, fair pricing, and optimal economic returns.

He emphasized that the updated IPO framework aims to boost efficiency, attract investment, and further enhance the role of the private sector in Egypt’s economy.