Prime Minister Mostafa Madbouly has directed officials to establish a clear timeline to complete the temporary listing procedures for 10 government-owned companies affiliated with the petroleum sector on the Egyptian Exchange in the coming period.

Madbouly chaired a meeting on Tuesday to review the vision and strategy of the Ministry of Petroleum and Mineral Resources regarding the offering of several sector companies on the Egyptian Exchange.

He emphasized that the government is currently preparing a number of petroleum companies for temporary listing, a move expected to improve corporate performance, strengthen competitiveness, and attract additional investment.

During the meeting, Petroleum Minister Karim Badawi stated that the plan to list petroleum companies aims to reshape management practices within these firms, leveraging the recent momentum achieved by the sector and converting operational gains into liquidity to support future expansion projects.

 He added that companies are being selected based on their strong financial positions and their ability to attract foreign investors.

Badawi explained that listing petroleum companies on the Egyptian Exchange will enable them to benefit from a wide range of financial instruments to secure funding for growth and expansion through diversified financing sources, including individuals, financial institutions, and investment funds.

He also noted that daily trading activity, under normal market conditions, serves as a reliable indicator of company performance, which can play a key role in potential mergers and acquisitions that strengthen companies’ operational positions.

The minister reiterated that offering petroleum companies on the stock exchange is expected to attract institutional investment inflows that support Egypt’s balance of payments, improve administrative efficiency through stronger governance and disclosure standards, and provide alternative financing options beyond reliance on the state budget or borrowing to fund expansion projects, while also boosting confidence in the country’s capital market.

For his part, Hashem El-Sayed, Assistant to the Prime Minister and CEO of the State Ownership Unit, stated that the objective is to strengthen governance of state-owned enterprises.

 He explained that companies affiliated with the petroleum sector will first be temporarily listed on the Egyptian Exchange before undergoing a fair valuation process.

He added that six companies have already been temporarily listed in recent days, noting that the move has been widely welcomed by economic and investment circles.