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The IFC has already prepared a study for the next phase, which will prioritize four sectors: management and operation of state-owned airports, telecommunications, banks, and insurance, according to the prime minister’s statement
Egypt’s initial public offering (IPO) program has yielded a remarkable US$5.6 billion, with the sale of complete or partial shares in 14 state-owned companies, says Prime Minister Mostafa Madbouly. The International Finance Corporation (IFC) is conducting preliminary studies for the potential inclusion of 50 additional state-owned companies, Madbouly added.
The IFC has already prepared a study for the next phase, which will prioritize four sectors: management and operation of state-owned airports, telecommunications, banks, and insurance, according to the prime minister’s statement.
Egypt’s IPO program is a list of 35 state-owned companies that was offered in 2023 to strategic investors, the public offering on the Egyptian Stock Exchange, or both, to provide foreign currency, within the framework of a state-owned policy document.
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The IPO program is one of the state plans to solve the economic crisis and the shortage of hard currency by attracting more investors.
