Gov't to offer shares of its companies on bourse within 2 months

CAIRO - 3 July 2017:Prime Minister Sherif Ismail said on Monday that shares of the Engineering Co. for the Petroleum & Process Industries (ENPPI) will be offered on the Egyptian stock exchange within two months.

In statements at the cabinet, Ismail added that other companies working in several sectors, including transport, banks and business sector would be also offered on the bourse.

"We want to strengthen the bourse and finance the projects of companies that seek expansion, reform and restructuring,” he said.

Listing companies on bourse will provide benefits of applying governance and financial supervisory and achieve financial returns for the companies that will offer their shares, he pointed out.

The government is studying the executive regulation of a new investment law and it will be ready in August, he added.