Offering
“The offering process aims to maximize the value of the two companies and attract investors from the local or foreign private sector,” according to the cabinet spokesman, Ambassador Nader Saad.
Offering companies on the stock exchange will be through a public offering or by selling a share to for strategic investors, the prime minister clarified.
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.
Egypt’s draft budget for 2022/2023 fiscal year revealed the government's intention to complete the offering program.
Abdeen indicated that the company is currently studying the offering in cooperation with CI Capital and a number of specialized entities.
Macro Group for Pharmaceuticals Company’s (Macro Capital) public and private offerings on the Egyptian exchange (EGX) were implemented with a total value of LE 1.28 billion.
Gad added that his company hopes to offer Banque du Caire from government offerings in the same year, according to a TV statement.
The EGX indicated in a statement, Tuesday, that the offering was implemented through 264.51 million shares, or 45.8 percent of the company's shares, at a price of LE 4.85 per share in two tranches (public and private).
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.
The Egyptian Stock Exchange's listing committee had agreed at the end of last December to list the shares of Nahr Al-Khair Company, with an issued capital of LE 200 million, divided into two billion shares, with a nominal value of 10 piasters per share.
The minister added in statements on the sidelines of the Seventh CEO Conference, Monday that the total value of the offered share is estimated at LE 135 million.
Madbouly explained during the cabinet meeting that the government is aware of the importance of increasing the offerings of public companies; In order to enhance the role of the stock market, develop and revive the movement of capital flow and trading in the Egyptian Stock Exchange, and raise the market capital to be more attractive to investors
This came in a meeting chief executive of capital markets at the London Stock Exchange, Murray Ross, and Charlie Walker, head of primary markets at the stock exchange. EGX received Wednesday the incomer number 241 in the list of listed companies, e-finance for financial and digital investments, a leading company in the development, management and operation of technological networks for digital transactions.
EGX said in a statement, Monday, that the public offering numbered 25.77 million shares, representing 6.17 percent of the total shares offered for sale, which represented 1.61 percent of the company's total issued shares.
It explained that the initial public offering (IPO) period started from Sunday, October 10, until Sunday, October 17.
The company stated, in a statement, Thursday that it will offer 80 million shares of the current shares in a secondary offering on the EGX and implement the public offering in the primary market for 177.77 million ordinary shares as a capital increase.
The committee presented the proposal during a meeting it organized with the head of the Egyptian Stock Exchange via video conference technology.
This statement came on the sidelines of the signing of a cooperation protocol with Nabila Makram, Minister of State for Immigration and Egyptian Affairs Abroad.
This came during a workshop organized by the Stock Exchange in coordination with the European Bank and the Federation of Eurasian Stock Exchanges, to familiarize companies with the requirements for registration
