Egypt to unveil details of upcoming IPO plan, including military-owned companies – PM

Egypt will announce its upcoming initial public offerings (IPOs) plan next week, which will involve the listing of three to four military-owned companies on the Egyptian Exchange (EGX), Prime Minister Moustafa Madbouly revealed on Wednesday.

The plan will feature IPOs from various sectors, including banking, industry, and pharmaceuticals.

“The plan will be presented in detail, with specific procedures and figures, in the coming week.” Prime Minister Madbouly told a press conference.

Further details will be shared in due course within the coming weeks, he added.

The move is part of Egypt’s broader strategy to diversify its economy and attract both foreign and domestic investments, while continuing efforts to support the growth of the private sector.

Attribution: The Egyptian Cabinet