Arab Finance: There will be no maximum limits for the shares to be offered for sale in the two military-owned companies, namely National Company for Producing and Bottling Natural Water (Safi) and the National Petroleum Company (NPC), also known as Wataniya Petroleum Company, CEO of the Sovereign Fund of Egypt (TSFE) Ayman Soliman told Asharq Business on March 16th.

Soliman stressed the "flexibility" with regard to the percentage offered or the time period for the offering.

Established in 1993, Wataniya owns about 255 fuel stations, with 20 additional stations under construction.

Safi was established in 1996 in Siwa Oasis, and it owns four factories, one of which is for water industry, another for olive oil production, the third for pickled olives production, and the fourth is a salt production complex.

On March 12^th, the Egyptian cabinet announced that Egypt would begin the procedures of Safi and Wataniya’s listing on Wednesday, March 15^th.

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