By: Ahmed Allam
Cairo – Mubasher: The Ministry of Finance (MOF) is looking to generate almost EGP 8 billion to EGP 10 billion in revenues through listing state-run firms on the Egyptian Exchange (EGX) in fiscal year 2018/2019, deputy finance minister said.
In March, the MOF stated that it plans to offer up to 23 state-owned companies on the Egyptian bourse at a total value of EGP 80 billion as part of the first phase of the government IPOs programme.
These companies include Engineering for the Petroleum & Process Industries (ENPPI), Egyptian Drilling Company, Middle East Oil Refining (MIDOR), Assiut Oil Refining Co (ASORC), and Alexandria Mineral Oils Company (AMOC).
The government IPO programme aims to raise the EGX’s market capital, as well as boosting daily trading volume, according to a statement.
