Egypt aims to enhance private sector participation in public investments to reach 65 percent in the coming years
Maait clarified that the Prime Minister would disclose the details of the offerings plan in the coming period.
This step comes with the aim of helping to increase foreign exchange flows, and providing a portion of the foreign financing required to cover the needs of the Egyptian economy, in addition to continuing to achieve a primary surplus and growth in tax revenues.
The company was added to TSFE’s Pre-IPO fund earlier this year. According to sources, preparations for the potential IPO have begun but did not disclose further details
President Abdel Fattah El-Sisi previously announced the company’s IPO back in 2021 and was noted as potentially the country’s largest initial public offering in its history
Egypt is "one of the innocent countries that were injured by mistake, and that the government did a good job in reforming the country's economy.
President Abdel Fatah al-Sisi convened Tuesday with the heads of the National Petroleum Company (NPC) and National Co. for Natural Water in Siwa (Safi).
The EGX’s decision comes after the offering of Ghazl Al-Mahalla football was not covered, as the total quantities of orders registered in the private deals market in the initial public offering (IPO) amounted to about 17.6 million shares, with a coverage rate of 17.96 percent.
The stock exchange indicated, in a statement, that the underwriting will close on August 28.
The meeting, attended by a host of ministers and high-level officials, was held to follow up on the IPO program.
Egypt is working on offering a number of army-affiliated companies on the EGX through the Egypt Sovereign Fund, which handles the process of selecting and structuring assets, with the aim of expanding the shareholder base and promoting local and foreign private investments.
The FRA also agreed to increase the maximum number of shares that a single subscriber is allowed to subscribe to, to 15 million shares instead of 2 million shares.
The CEO of the Sovereign Fund of Egypt revealed that the value of the portfolio ranges between $3 billion and $4 billion, with the aim of raising it to more than $5 billion or $6 billion.
Egypt’s draft budget for 2022/2023 fiscal year revealed the government's intention to complete the offering program.
Saeed hailed the great success of the fund's IPO, which was launched on February 15, 2022. It targeted only LE 50 million, but the IPO was oversubscribed by 30 times, she said.
The EGX indicated in a statement that the total quantities of purchase orders (initial quantity) registered in the private deals market amounted to 1.35 billion shares.
Madbouli said he will periodically follow up the listing of a number of government companies in the bourse in 2022.
Omran said in a press statement on the sidelines of the annual conference for the FRA, Monday, that the company is medium-sized.
Madbouly added, in a TV interview, that these companies affiliated with the armed forces are being restructured in preparation for being offered on the Egyptian Stock Exchange.
The company explained in a statement to the Egyptian Stock Exchange, Wednesday, that a promotion contract was signed with CI Capital to promote and cover initial public offerings (IPOs), EFG Hermes to promote and cover the subscription, and Al Ahly Pharos to promote and cover the subscription in securities.