Arab Finance: The Financial Regulatory Authority (FRA) has launched a readiness program to prepare state-owned companies temporarily listed on the Egyptian Exchange (EGX) for public offerings, according to a statement.

Participating in the program's launch, Minister of Investment and Foreign Trade Mohamed Farid said the temporary listing mechanism aims to provide companies with a transitional period to meet all technical and regulatory requirements before entering the market.

Launched by the FRA through its training arms the Financial Services Institute (FSI) and the Egyptian Institute of Directors (EIoD), the initiative is the first integrated IPO readiness program targeting state-owned companies that have been temporarily listed on the EGX.

During this phase, companies will enhance their accounting and financial preparedness by preparing financial statements in line with Egyptian accounting standards, complying with audit requirements through FRA-registered auditors.

Farid noted that the program enables companies to build the expertise required before going public, reducing the risk of compliance violations and operational challenges that may arise after an IPO. This will improve the quality of offerings, enhance corporate efficiency, and ensure greater adherence to regulatory standards.

The government's IPO program, launched in 2016, continues to advance, with 20 state-owned companies currently temporarily listed on the EGX and undergoing preparations to meet IPO requirements. The initiative is expected to widen the base of listed companies and deepen Egypt's capital market.

Farid also revealed that the government is moving ahead with the planned IPO of Misr Life Insurance Company, with investor negotiations ongoing alongside valuation and technical preparations.

Meanwhile, the government intends to complete all necessary procedures for the offering and commence trading before the end of 2026.