Arab Finance: Egypt is planning to raise about $4 to $5 billion in proceeds from selling state-run assets under its initial public offering (IPO) program until June 2024, Asharq Business reported on September 10^th, citing Minister of Planning an Economic Development Hala Elsaid.

Elsaid added that the Egyptian government has successfully raised half of the targeted amount, equivalent to $2.5 billion, to date.

In July, Prime Minister Mostafa Madbouly announced that Egypt signed contracts worth a total of $1.9 billion with the private sector to sell state-owned assets under its IPO program.

In July, Madbouly unveiled that Egypt was preparing around 50 state-owned firms to be offered for sale in collaboration with World Bank’s International Finance Corporation (IFC).

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