CAIRO – 11 December 2024: Prime Minister Mostafa Madbouly announced plans to offer 11 companies on the stock market in 2025 as part of Egypt's Initial Public Offering (IPO) program. The list includes Misr Pharmaceutical Industries, Gabal El-Zeit Wind Station, Wataniya Company, Safi Company, and Silo Food Company.
During a press conference, Madbouly confirmed that Wataniya and Safi will be listed on the stock market by mid-next year. Additionally, shares of state-owned Alexandria Bank and Banque du Caire will also be included in the upcoming offerings.
The Prime Minister emphasized that the companies will be made available either through partnerships with strategic investors or through public listings on the Egyptian Stock Exchange.
In December, the United Bank successfully completed the public and private offering of 330 million shares, representing 30 percent of its issued capital. Priced at EGP 13.85 per share, the offering raised a total of EGP 4.57 billion across two tranches.
This move aligns with Egypt’s broader strategy to divest assets in sectors such as banking, energy, and real estate, aiming to optimize state assets and drive economic growth.
In November, Madbouly chaired a meeting of the Economic Ministerial Group, focusing on the government’s IPO program and strategies to enhance Egypt’s economic stability.
According to Cabinet Spokesman Mohamed El-Homsany, preparations are underway for several additional offerings, with 15 more companies set to join the program in the near future.
Comments
Leave a Comment