Cairo – Mubasher: The government is planning to offer a stake in around five state-run companies on the Egyptian Exchange (EGX) in the first quarter of 2019, the finance minister said.
The initial public offerings (IPOs) will include floating firms which are currently unlisted on the bourse, Mohammed Maait told local newspaper Almal.
While the additional share sales of Alexandria Mineral Oils Co (AMOC) and Eastern Co on the EGX will take place in October, and shares of other three firms will be offered next November and December, Maait added.
This is the second amendment in the timeframe of the government IPO programme announced last July.
It was planned to begin the state IPO programme with floating further shares in Eastern Co and Heliopolis Company for Housing and Development, but the public sector minister Hisham Tawfik suggested beginning with already listed Alexandria Container and Cargo Handling Co in October, instead of Heliopolis Housing.
