NI Capital devises for stakes sale in 7 state-owned companies
Updated 5/16/2023 11:15:00 AM
Arab Finance: NI Capital, a privately managed arm of National Investment Bank (NIB), is preparing for the sale of stakes in seven state-owned companies as part of the government’s initial public offerings (IPOs) program, the company’s CEO Mohamed Metwally told CNBC Arabia in an interview on May 15th.
The offering of shares in two of these firms is expected to be completed by the end of fiscal year (FY) 2022/2023, Metwally highlighted.
Stakes in the rest of the companies will be offered for sale by the end of the year or prior to the first quarter of FY 2023/2024, he noted.
Metwally has not revealed the names of companies set to be offered; however, he said that they include those that operate within the sectors of oil, petrochemicals, and transport.
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