Egypt expects to start IPO programme in Q4 – minister

Egypt will start its initial public offering programme for some state-owned firms during the fourth quarter of this year, minister of planning Hala al-Saeed said Wednesday.

The government announced in 2016 launching an IPO programme that will offer shares in dozens of state-owned companies over the next three to five years in areas including oil, services, chemicals, shipping, and real estate, in addition to some banks.

The last time state-owned companies were listed on the exchange was in 2005 when shares of Telecom Egypt, the state’s landline monopoly, and oil companies Sidi Kerir Petrochemicals and AMOC were floated.