Egypt to offer 32 companies for sale on EGX or to strategic investors

Updated 2/9/2023 8:43:00 AM

Arab Finance: The Egyptian Cabinet is looking forward to offering shares in up to 32 companies for sale on the Egyptian Exchange (EGX), to strategic investors, or a mix of both, according to a Cabinet statement on February 8th.

The offerings are set to take place starting from the current quarter until the end of the first quarter (Q1) of 2024.

The companies to be offered include Banque du Caire, United Bank of Egypt, Arab African International Bank, Misr Technology Services (MTS), El Nasr Housing and Development Company, El Mostakbal for Urban Development, and Misr Concrete Development Co.

Helwan Fertilizers Co. (HFC), Wataniya Petroleum, Egyptian Polypropylene and Polypropylene (EPP), El Nasr Mining, Egyptian Ethylene and Derivatives Company (ETHYDCO), Egyptian Drilling Company (EDC), Egyptian Linear Alkyl Benzene (ELAB), and SINAI MANGANESE Company are among the companies.

Moreover, the companies set to be offered included Egyptian Ferrous Alloys, Canal Company for Mooring and Lights, Port Said Container & Cargo Handling Co., Damietta Container & Cargo Handling Co., Misr Insurance, and Misr Life Insurance, in addition to the hotels owned by the Ministry of Public Business Sector.

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