Arab Finance: The state-owned pharmaceutical firm HoldiPharma has received five offers from investment banks to manage the anticipated offerings of its subsidiaries, Chemical Industries Development (CID) and Misr Pharma, on the Egyptian Exchange (EGX), government sources told Al Borsa News.

HoldiPharma is studying the offers, and is set to decide upon a bank before the end of this year, the sources said.

They added that the offering procedures will start as soon as the contract with the investment bank is signed, expecting the offering to take place in the first half (H1) of 2025.

The offering comes within the framework of the state’s initial public offering (IPO) program, which aims to boost the private sector involvement in the Egyptian economy and implement the state ownership policy document for partnership with the private sector, the sources noted.

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