According to local media, the IPO program now has 35 companies being prepared to be offered to investors, including Egypt Telecom and Ezz El Dekheila Steel.
In a recent update to its State Ownership Policy document for August, as reported by local media, the Egyptian government has announced its latest steps in the plan to offer shares in various enterprises. Egypt is now set to extend shares in 5 additional companies and water desalination plants by the end of the first half of the upcoming year.
According to local media, the IPO program now has 35 companies being prepared to be offered to investors, including Egypt Telecom and Ezz El Dekheila Steel.
The document stated that the program aims to collect $5 billion during this phase, a significant portion of the funds is expected to come from the sale of a 70% stake in the Siemens power station located in Beni Suef, which is expected to be implemented in June next year.
The government is also looking to offer the Jabal Al-Zayt wind energy station, valued at $300 million, proposition to potential investors, as well as Zafarana Wind Farms whose offering is set to conclude in December 2023.
Gas station operator Wataniya was also mentioned, with the document noting 8 investors having submitted non-binding offers.
Similarly, the restructuring of Safi, which resulted in the formation of a new entity with factory ownership and 75 distribution outlets, has garnered interest from 30 investors, with two currently evaluating the deal.
