Arab Finance: The Egyptian government plans to temporarily list 20 companies affiliated with the Ministry of Public Business Sector on the Egyptian Exchange (EGX) by the end of April, Hashem El Sayed, Assistant Prime Minister, said.
During a meeting with Prime Minister Mostafa Madbouly, El Sayed noted that 10 of these companies will be temporarily listed within a maximum of two weeks, while the remaining entities will be listed by the end of the month.
He also reviewed the status of the 40 companies to be transferred to the Sovereign Fund of Egypt (TSFE) as part of the government's efforts to optimize the utilization of state-owned assets.
El Sayed pointed out that an agreement was reached to develop a new approach for initial public offerings (IPOs), enhancing disclosure and transparency for all listed companies and widening the base of potential investors.
He also emphasized that these measures will help increase the market capitalization of the EGX and expand the range of IPOs.
In a recent report, the International Monetary Fund (IMF) noted that Egypt is set to complete four major transactions for financial closure before the end of the state ownership policy (SOP), which are expected to generate $1.5 billion in proceeds.
