The Ministry of Finance sold 162.2 million shares of Telecom Egypt at a price of EGP 23.11, with a total value of EGP 3.7 billion.
The Ministry of Finance is considering selling another 10% to 15% of Telecom Egypt (TE) to investors and the sale is expected to happen before the end of the year, local media reported.
The Ministry of Finance sold 162.2 million shares of Telecom Egypt at a price of EGP 23.11, with a total value of EGP 3.7 billion, marking the first deal to be implemented within the framework of the government’s IPO program.
The Egyptian government recently intensified its efforts and aims to raise almost $5 billion from the proceeds of the IPO program until June 2024.
On Tuesday, Egypt’s planning minister announced that Egypt received 5 offers from investors interested in buying the Gabal El-Zeit wind farm with a capacity of 580 megawatts.
The government has previously announced in August that it is looking to offer the Gabal El-Zeit 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.
