Egypt’s FRA launches training programme to prepare state firms for IPOs
Egypt’s Financial Regulatory Authority (FRA) will launch an IPO readiness programme within two weeks to help prepare state-owned companies for public offerings, as the government seeks to accelerate its privatisation programme and prepare firms for stock market listings.
The programme, developed by the Financial Services Institute (FSI), the FRA’s training arm, targets state-owned companies with temporary listings on the Egyptian Exchange (EGX) and their executive management, helping them meet listing requirements while strengthening corporate governance and disclosure standards.
FRA Chairman Islam Azzam said the initiative was launched in coordination with the State-Owned Companies Unit, headed by Hashem El-Sayed, and forms part of the regulator’s broader role in supporting the government’s IPO programme beyond its supervisory and regulatory responsibilities.
“The FRA is working to transfer best practices to the targeted companies to help them complete listing and offering requirements under modern regulatory frameworks while ensuring compliance after listing,” Azzam said in a statement on Monday.
He said stronger governance, disclosure standards, and institutional capacity would enhance the competitiveness of Egyptian companies, make the capital market more attractive to domestic and foreign investors, and support investment diversification.
The programme will be rolled out in phases, beginning with companies that have already obtained temporary listings on the Egyptian Exchange (EGX) before expanding to firms the government plans to list in future stages.
The State-Owned Companies Unit has so far secured temporary listings for 20 state-owned companies on the EGX, including three petroleum companies and one tourism company most recently.
The State-Owned Companies Unit has so far secured temporary listings for 20 state-owned companies on the EGX, including three petroleum companies and, most recently, one tourism company.
The programme will target board members, senior executives, finance and investor relations officials, governance officers, and other personnel involved in preparing companies for public offerings.
It combines classroom training, case studies, and practical exercises, covering the listing process from temporary admission through final listing and the start of trading.
The curriculum covers capital market regulations, listing procedures, financial and accounting readiness, corporate governance, sustainability, disclosure requirements, prospectus preparation, public offering mechanisms, and post-listing compliance.
Experts from the FRA, the EGX, and FRA-licensed IPO advisers will deliver the sessions.
The FRA said the programme is the first national training initiative dedicated to supporting the government’s public offerings programme by developing specialised local expertise and strengthening institutional capabilities within participating companies.
Last month, the FRA hosted government officials, investment banks, financial advisers, and auditors involved in the state’s IPO programme. Participants agreed that temporary listings should serve as a stepping stone to final public offerings while strengthening corporate governance, increasing investor awareness and safeguarding investors’ interests.
Attribution: Amwal Al Ghad English