Egypt IPO Program
El Said, speaking at the Joint annual meeting of the Arab financial institutions in Cairo, mentioned that the government is presently engaged in evaluating offers and intends to make a selection soon
EPP is one of the 35 state-owned companies that is part of Egypt’s initial public offering (IPO) program
Taqa Arabia, Abu Dhabi National Oil Company (ADONC), Emirates National Oil Company (ENOC), and Petromin are currently competing for the acquisition of shares in Wataniya
In further collaboration with the Egyptian government, the International Finance Corporation (IFC) is conducting preliminary studies for the potential inclusion of 50 additional state-owned companies, Madbouly added.
Under the agreement, ICON has acquired a 39 percent stake in Legacy Hotels, with the option to subscribe to a capital increase that would ultimately grant them a controlling 51 percent stake
TFSE achieved significant milestones by concluding agreements to sell shares in state-owned companies, amounting to a total value of $2.5 billion
Harmgart said that discussions are currently underway with The Sovereign Fund of Egypt (TFSE) to discuss the possibility of purchasing a minority stake in the United Bank and the Banque du Caire
The announcement comes after GIH successfully acquired 669 million shares in Eastern Company
CIHC sold approximately 669 million shares to Global Investment Holding, an investment firm based in the United Arab Emirates (UAE)
Egypt, under this agreement, will actively encourage investors to establish joint projects in sectors that are of national importance
The implementation of the structural reforms program was discussed in the meeting as it is a top priority in the government’s development strategy due to its importance to the Egyptian economy especially in industry, agriculture, and communications technology fields
The minister spoke to media on the sidelines of yesterday’s Egypt – OECD Country Program conference, disclosing new details on the progress of the sales of Wataniya Petroleum, Jabal El-Zeit, and Safi
Egypt sold a 10 percent stake in the company via the Egyptian Exchange (EGX), reducing the finance ministry’s stake to 70 percent
The IPO program, which now totals to 35 companies, is one of state strategies to overcome the shortage of foreign currency by attracting more investors.
The agreement was signed by Makhtar Diop, Managing Director of the IFC and Rania Al Mashat, Minister of International Cooperation.
This comes after MIH and SEII signed an agreement that aims to develop and increase the capital and pump new investments in El Nasr Glass and Crystal Company.
SCZone currently holds a 39 percent stake in PSCCHC.
He also said that the stakes in the remaining companies will be sold before the end of the year, and that the scope of work of these companies include: oil, petrochemicals, and transport.
We will start studying offers and awards between 12 to 16 weeks of receiving them, as competitive offers take time.
UAE's National Paints acquired 81% of PACHIN purchasing a total of 19.358 million of the company’s shares in a 770 million EGP deal, which accounts for almost $25 million
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