Egypt to sell 22-25% of Heliopolis Housing in Q1 – minister

Egypt will sell between 22 percent and 25 percent of shares in Heliopolis Company for Housing and Development on the local bourse in the first quarter of 2020, Public Enterprise Minister Hesham Tawfik said on Tuesday.

Tawfik also said that state-controlled companies Alexandria Container and Cargo Handling Company as well as Abu Qir Fertilizers are ready to offer some of their shares on the stock market. The timing of the offering will be set by investment banks, he added.

The government has been in talks for years about selling stakes in several state-owned companies but has repeatedly postponed the programme.

Last year, the government unveiled a list of 23 state-controlled companies to be brought to market.

Source: Reuters