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Cabinet: Shares Of State-Owned Companies To Be Floated At ESX As Of June
Source: 5/15/2018

Prime Minister Sherif Ismail has chaired the fourth meeting of the ministerial committee supervising the government's Initial Public Offerings (IPO) to review a report presented by the committee's rapporteur as per the IPO's executive and timetable program that will start as of June 2018 till the beginning of 2019.

The government's IPO will include floating shares of four to six governmental companies in the sectors of petroleum, industry and petrochemicals on the Egyptian stock market starting in June and until the beginning of 2019.

The value of the floated shares is estimated at EGP 15 to 18 billion. The meeting was attended by ministers of oil, trade, industry, finance, planning and public enterprises. The meeting also discussed issuing a resolution to organize the rulings of the IPO's program of the state-owned companies or the companies that have shares offered at the bourse.

Egypt in March announced the names of 23 state companies that will sell stakes from this year under its plan to raise 80 billion pounds through minority share offerings on the Cairo bourse.

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