Fourteen Egyptian companies aiming for IPOs in 2020 – bourse head

Fourteen Egyptian companies are aiming to launch initial public offerings (IPOs) within 2020, the country’s stock exchange chairman Mohamed Farid said on Tuesday.

Nearly three years ago, Egypt unveiled a programme to sell stakes in state-owned enterprises as part of broader efforts to revive the economy by devaluing the currency and raising interest rates to curb a dollar crunch that had battered business activity.