Arab Finance: The Financial Regulatory Authority (FRA) is set to launch a specialized training program within days to prepare state-owned companies temporarily listed on the Egyptian Exchange (EGX) to meet the regulatory and governance requirements for listing and initial public offerings (IPOs).

The initiative, implemented by the Financial Services Institute (FSI), marks the first national training program dedicated to preparing public-sector companies for capital market listings. It is created to strengthen the capabilities of executive management teams, promote best practices in corporate governance and disclosure, and develop specialized expertise in managing IPO processes.

For his part, FRA Chairman Islam Azzam said the program has been developed in coordination with the State-Owned Companies Unit to provide participating companies with international best practices and ensure compliance with modern regulatory standards governing public listings.

The first phase of the program will focus on companies already provisionally listed on the EGX before expanding to cover additional state-owned enterprises earmarked for future offerings under the government's privatization agenda.

The training will target chairpersons, board members, CEOs, CFOs, as well as executives responsible for investor disclosure, corporate governance, and internal audit.

Over the past few months, the government has completed the temporary listing of 20 of the 30 companies included in its state IPO program.

In June, four companies were admitted to the EGX through temporary listings as part of the government’s privatization program to attract foreign and Gulf investors.

Prime Minister Mostafa Madbouly has been following up on the IPO program that aims to maximize the economic value of state-owned assets and ensure sustainable returns generated from these offerings, which will positively impact the national economy.