Cairo – Mubasher: The Egyptian government would commence listing state companies in the Egyptian Exchange (EGX) by the first quarter of 2017, said investment minister Dalia Khorshid on Monday.
Three companies are set to initiate their initial public offerings by the first quarter, which are: Alexandria Mineral Oils (AMOC), the Engineering Company for the Petroleum and Process Industries (ENPPI), and Sidi Kerir Petrochemicals Company (Sidpec), the minister revealed.
The firms’ float will range from 20% to 35% based on the proposal and requirements of each company, the minister added, clarifying that these state-owned entities would further issue global depository receipts on global stock markets.
