Egypt to list 20 state-owned firms on stock exchange by end-April

Egypt plans to list 20 state-owned companies on the stock exchange (EGX) by the end of April, including 10 within the next two weeks, as part of efforts to broaden its privatisation programme and attract investors, the Cabinet said on Tuesday.

The plan was outlined by Assistant Prime Minister Hashem El-Sayed, who also heads the State-Owned Enterprises Unit, during a meeting with Prime Minister Moustafa Madbouly. The discussions also covered the transfer of 40 additional state-owned companies to the Sovereign Fund of Egypt (TSFE) to optimise state assets.

El-Sayed said the government is working to enhance transparency and disclosure for companies being offered, aiming to expand the investor base and draw international interest. Fair value assessments are also being prepared to support pricing and encourage participation.

He added that the measures are intended to increase market capitalisation on the EGX and widen the scope of privatisation offerings, as the government seeks to modernise state-owned enterprises and strengthen investor confidence.

Attribution: Amwal Al Ghad English