Egypt IPO Program

ECHEM appoints Compass Capital to sell its 26% stake in EPP

Mon, 12 Feb 2024 - 12:35 GMT

EPP is one of the 35 state-owned companies that is part of Egypt’s initial public offering (IPO) program

Egypt to receive final bids to acquire Wataniya within 48 hours

Tue, 06 Feb 2024 - 01:49 GMT

Taqa Arabia, Abu Dhabi National Oil Company (ADONC), Emirates National Oil Company (ENOC), and Petromin are currently competing for the acquisition of shares in Wataniya

Egypt's IPO Program generates $5.6B through selling stakes in 14 companies

Thu, 21 Dec 2023 - 03:36 GMT

In further collaboration with the Egyptian government, the International Finance Corporation (IFC) is conducting preliminary studies for the potential inclusion of 50 additional state-owned companies, Madbouly added.

ICON acquires majority stake in 7 hotels as part of Egypt’s privatization program

Wed, 20 Dec 2023 - 05:03 GMT

Under the agreement, ICON has acquired a 39 percent stake in Legacy Hotels, with the option to subscribe to a capital increase that would ultimately grant them a controlling 51 percent stake

Egypt expands IPO program with new companies and sales in Q1 2024

Tue, 12 Dec 2023 - 03:19 GMT

TFSE achieved significant milestones by concluding agreements to sell shares in state-owned companies, amounting to a total value of $2.5 billion

EBRD to possibly acquire minority stakes in 2 state-owned banks

Wed, 29 Nov 2023 - 12:23 GMT

Harmgart said that discussions are currently underway with The Sovereign Fund of Egypt (TFSE) to discuss the possibility of purchasing a minority stake in the United Bank and the Banque du Caire

Global Investment Holding to invest $150M in Eastern Company in 2024

Tue, 21 Nov 2023 - 10:58 GMT

The announcement comes after GIH successfully acquired 669 million shares in Eastern Company

CIHC acquires 30% stake in Eastern Company in an LE 16.4B transaction

Thu, 16 Nov 2023 - 04:41 GMT

CIHC sold approximately 669 million shares to Global Investment Holding, an investment firm based in the United Arab Emirates (UAE)

Finance Ministry, AWIU partner to enhance Arab-African investments

Sun, 12 Nov 2023 - 05:25 GMT

Egypt, under this agreement, will actively encourage investors to establish joint projects in sectors that are of national importance

Egypt’s PM follows up on IPO, reforms program

Sun, 22 Oct 2023 - 11:43 GMT

The implementation of the structural reforms program was discussed in the meeting as it is a top priority in the government’s development strategy due to its importance to the Egyptian economy especially in industry, agriculture, and communications technology fields

Planning Minister shares updates on sales of Safi, Jabal El Zeit, and Wataniya

Wed, 18 Oct 2023 - 10:44 GMT

The minister spoke to media on the sidelines of yesterday’s Egypt – OECD Country Program conference, disclosing new details on the progress of the sales of Wataniya Petroleum, Jabal El-Zeit, and Safi

Ministry of Finance considers selling more stake in Telecom Egypt

Wed, 13 Sep 2023 - 11:01 GMT

Egypt sold a 10 percent stake in the company via the Egyptian Exchange (EGX), reducing the finance ministry’s stake to 70 percent

Egypt wants to raise $5B from its IPO program by mid-2024

Wed, 30 Aug 2023 - 02:15 GMT

The IPO program, which now totals to 35 companies, is one of state strategies to overcome the shortage of foreign currency by attracting more investors.

IFC appointed as an advisor to Egypt’s IPO program

Sun, 18 Jun 2023 - 02:37 GMT

The agreement was signed by Makhtar Diop, Managing Director of the IFC and Rania Al Mashat, Minister of International Cooperation.

Saudi Egyptian Industrial Investment to acquire 70% of El Nasr Glass and Crystal Company

Sun, 11 Jun 2023 - 04:21 GMT

This comes after MIH and SEII signed an agreement that aims to develop and increase the capital and pump new investments in El Nasr Glass and Crystal Company.

Port Said Container and Cargo Handling is offering 20% stake on the EGX

Thu, 08 Jun 2023 - 02:41 GMT

SCZone currently holds a 39 percent stake in PSCCHC.

NI Capital is preparing to sell stakes in 2 state-owned companies

Tue, 16 May 2023 - 02:25 GMT

He also said that the stakes in the remaining companies will be sold before the end of the year, and that the scope of work of these companies include: oil, petrochemicals, and transport.

Egypt to receive investment offers for Wataniya in May: Planning Ministry

Sun, 14 May 2023 - 03:38 GMT

We will start studying offers and awards between 12 to 16 weeks of receiving them, as competitive offers take time.

UAE’s National Paints officially acquires state-owned Pachin in a $25m deal

Tue, 02 May 2023 - 04:08 GMT

UAE's National Paints acquired 81% of PACHIN purchasing a total of 19.358 million of the company’s shares in a 770 million EGP deal, which accounts for almost $25 million