Soliman added that the IPO program is expanding more in 2024 with a pipeline of companies that will be added to the program, including infrastructure and financial services companies
Egypt’s initial public offering (IPO) program will include new companies and new sales of state-owned companies during the first quarter of 2024, according to statements of the CEO of the Sovereign Fund of Egypt (TFSE), Ayman Soliman to CNN Arabia.
Soliman added that the IPO program is expanding more in 2024 with a pipeline of companies that will be added to the program, including infrastructure and financial services companies without specifying any more details on the companies.
TFSE recently succeeded in concluding agreements to sell shares in state-owned companies within the IPO program at a value amounting to $2.5 billion out of a total of $5 billion dollars that Egypt targets during the current fiscal year (FY23/24).
Egypt's TFSE already reported that it received $5 billion from the sale of state shares in 13 companies between March 2022 and July 2023.
The IPO program has a list of 35 companies and assets with three of the companies that already sold stakes to private investors: Eastern Company, Telecom Egypt, and Al Ezz Dekheila.
