He said the temporary listings form part of the procedures required to advance the state ownership offerings programme ahead of the companies’ planned listing on the Egyptian Exchange.
The Egyptian government has completed the temporary listing of three petroleum-sector companies under its state ownership offerings programme, with combined capital exceeding EGP 35 billion, alongside the listing of Al Maamoura for Real Estate Development and Tourism, according to Islam Azzam, Chairman of the Financial Regulatory Authority.
Speaking at a press conference held by the Egyptian Exchange on Sunday, Azzam said the three companies are Engineering for the Petroleum and Process Industries (Enppi), with capital of $357 million; the Egyptian Linear Alkyl Benzene Company (Elab), with capital of $210 million; and Petroleum Marine Services, with capital of $120 million.
He said the temporary listings form part of the procedures required to advance the state ownership offerings programme ahead of the companies’ planned listing on the Egyptian Exchange. The move is expected to strengthen the market’s appeal and competitiveness, attract further investment, and support the national economy by adding companies from strategic sectors.
The State-Owned Enterprises Unit aims to list around 30 government-owned companies on the Egyptian Exchange, including 20 companies from the public business sector and 10 petroleum-sector companies, said Hashem El-Sayed, Assistant to the Prime Minister and Chief Executive of the unit.
Minister of Petroleum and Mineral Resources Karim Badawi said the listing of Enppi, Elab and Petroleum Marine Services reflects the state’s strategy to expand private-sector participation and attract additional investment. He added that the move supports stronger governance and transparency, while creating new opportunities for petroleum-sector companies to expand and grow.
Enppi has applied for a temporary listing on the main market with issued capital of $357 million, divided into 2.856 billion shares with a nominal value of $0.125 per share. Elab applied with issued capital of $210.025 million, divided into about 2.1 billion shares with a nominal value of $0.1 per share. Petroleum Marine Services applied with issued capital of $120 million, divided into 12 million shares with a nominal value of $10 per share.
