Egypt targets extra proceeds of EGP 70B from IPO program in FY2023/24

Updated 5/9/2023 1:00:00 PM
Egypt targets extra proceeds of EGP 70B from IPO program in FY2023/24

Arab Finance: Egypt targets to collect additional proceeds of EGP 70 billion from its initial public offering (IPO) program in the budget of the fiscal year (FY) 2023/2024, Asharq Business reported on May 9th, citing a financial statement.

On February 8th, the Cabinet announced that it would offer 32 state-owned companies and banks for sale on the Egyptian Exchange (EGX), to strategic investors, or a mix of both.

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