Cairo – Mubasher: Egypt plans to float stakes in number of public banks and companies on the Egyptian Exchange in the near term, said government spokesperson.
The upcoming period will witness number of IPOs regarding stakes in successful public entities, added spokesperson.
The government statement followed a joint meeting between President Abdel Fattah El Sis, Governor of Central Bank of Egypt, prime minister and other two ministries, where they tackled the recent developments witnessed by Egypt’s bourse.
In 2005, Egypt witnessed three major IPOs of stakes in three public companies, thus are Alexandria Mineral Oils (AMOC), Telecom Egypt and Sidi Kerir Petrochemicals.
