Egypt launches pre-IPO fund for state firms – minister

Egypt has launched a pre-IPO fund designed to hold public stakes and work with strategic investors ahead of public offerings, Minister of Planning Hala al-Saeed said on Tuesday.

Egypt will revisit its forecasts for the economy by next month to account for shocks from abroad, al-Saeed told Bloomberg Television in an interview. She added that the country has recently benefited from improvements in FDI and exports.

The North African country is planning to relaunch its programme of initial public offerings (IPO) on the local stock exchange as the state IPO committee is expected to meet this week.