Egypt secures $5.6B so far from stake sales under IPO program: Madbouly

Updated 12/21/2023 7:54:00 AM
Egypt secures $5.6B so far from stake sales under IPO program: Madbouly

Arab Finance: The Egyptian government has achieved $5.6 billion so far from fully or partially exiting 14 companies within the initial public offering (IPO) program, Prime Minister Mostafa Madbouly stated in a press conference.

Madbouly noted that the government, in cooperation with the International Finance Corporation (IFC), has conducted preliminary studies on offering 50 state-owned firms for sale.

He added that a special focus would be on four sectors with top priority, namely airports, communications, banking, and insurance.

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