Egypt to offer extra shares in five state firms in 3 months: minister

Big 5

Egypt will offer additional shares in five state companies within the next three months at prices of 10 percent of stock market levels, its Public Enterprise Minister Hesham Tawfik said on Monday.

“We will offer another bunch of companies over a period of between six and nine months after the end of the first phase of five company offerings,” Tawfik said in a press conference.

Egypt is working on selling shares in at least 23 state-owned companies over the next few years across several sectors to help boost public finances.