Egypt launches first phase of petroleum listings on EGX with three firms

Egypt launched on Sunday the first phase of its petroleum sector IPO programme with the preliminary listing of shares in three companies on the Egyptian Exchange (EGX): the Engineering for the Petroleum and Process Industries Company (ENPPI), the Egyptian Linear Alkyl Benzene Co. (ELAB), and Petroleum Marine Services Company (PMS).

The preliminary listing includes ENPPI with issued capital of $357 million, ELAB with issued capital of $210 million, and PMS with issued capital of $120 million.

Petroleum and Mineral Resources Minister Karim Badawi said the three companies were selected due to their strong operational and financial performance, reflecting the petroleum sector’s competitiveness and growth potential.

Badawi said the ministry is continuing procedures to list additional petroleum sector companies to broaden the investor base, improve asset utilisation, and attract domestic and foreign investment.

He added that listing on the EGX would enhance governance, transparency, and disclosure standards, while providing companies with more diversified financing tools to support future expansion plans.

Notably, the preliminary listing precedes the offering of stakes in the companies for trading on the EGX following the completion of independent financial valuations.