Egypt to sell state stakes in 3 firms in Q4, 3 more in Q1-2024
Egypt plans to offer shares in three of its state-owned companies on the stock exchange (EGX) in the fourth quarter of the year, a government document on the share sale programme showed on Tuesday.
The three companies are the 580-MW facility in Gebel El Zeit – one of the country’s largest wind farm projects, military-owned fuel retailer Wataniya, and the United Bank.
The North African country also intends to offer shares in two ports; Port Said Container and Cargo Handling Co. (PSCCHC) and Damietta Container and Cargo Handling Co (DCHC), and in state-owned top cigarette maker Eastern Company within the first quarter of 2024, the document added.
The Egyptian government is also studying selling 70 percent of stake in Siemens-built, 4.8 GW combined-cycle power plant in Beni Suef within June 2024, seeking to raise between $1.4 billion and $1.86 billion, CNBC Arabic reported.
The country also seeks to raise $3.3 billion from selling stakes in 21 sanitation stations in coastal areas, at total production capacity of 3.3 million cubic metres.
