Egypt's gov't IPO program to resume by end of 2021: Planning Minister

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Wed, 08 Sep 2021 - 01:54 GMT

BY

Wed, 08 Sep 2021 - 01:54 GMT

File -Egyptian stock market

File -Egyptian stock market

CAIRO – 8 September 2021: The resumption of the government offering program in the stock market will be before the end of 2021, according to Minister of Planning and Economic Development, Hala El-Said.

 

El-Said said in statements on the sidelines of the Egypt International Cooperation Forum (ICF) today, Wednesday, that the offerings will include a number of state-affiliated companies, refusing to mention their names until the official announcement after completing all the various aspects.

 

Mohamed Omran, head of the Financial Regulatory Authority, had previously expected two to three government offerings on the stock market from September to December, according to Reuters.

 

So far, the government has not implemented the government offering program, which was aimed at offering 23 companies, only offering 4.5% of the shares of the Eastern Tobacco Company in March 2019.

 

The repercussions of the Corona pandemic delayed the resumption of the government offering program for up to a year.

 

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