Three companies were added to Egypt’s IPO program on Tuesday, the companies are: Eastern Company, Al Ezz Dekhila, and Telecom Egypt.
The Egyptian government seeks to collect $5 billion by offering shares of some state-owned companies to strategic investors from October 2023 until the end of June 2024. This was published in a report on the Government’s IPO (Initial Public Offering) Program by the Cabinet's Information and Decision Support Center (IDSC).
Three companies were added to Egypt’s IPO program on Tuesday, the companies are: Eastern Company, Al Ezz Dekhila, and Telecom Egypt.
Egypt’s IPO program is a list of 32 state-owned companies that was offered in February 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.
The IPO program, which now includes 35 companies, is one of state plans to solve the economic crisis and the shortage of hard currency by attracting more investors.
The document outlines Egypt’s plans to increase private sector participation and open up prospects for foreign investment.
The government declared that it plans to offer stakes in the Siemens Beni Suef power plant, Gabal El-Zeit wind power plant, and Zafarana wind farm, in addition to Safi and Wataniya.
