Arab Finance: The Egyptian government will include 61 additional state-owned companies to its initial public offering (IPO) program's list, with stakes set to be offered on the Egyptian Exchange (EGX), to strategic investors, or a mix of both, Al Borsa News reported.

The move aims to achieve the government's target of raising $5 billion from asset sales during the first half (H1) of 2024.

In February 2023, the Egyptian Cabinet announced that it was looking forward to offering stakes in up to 32 companies for sale.

The list included 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, among others.

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