Egypt’s Prime Minister announces 10 government companies to be offered in 2025
Date
12/12/2024 1:39:40 AM
(MENAFN) Egyptian Prime Minister Mostafa Madbouly unveiled details of the government’s IPO program, announcing that 10 companies will be offered in 2025. During a press conference following the weekly government meeting, he explained that the steps and procedures for offering these companies are part of implementing the state ownership policy document. The plan includes offering some shares to strategic investors and others on the stock exchange, with specific percentages to be determined and announced in the coming period.
Madbouly highlighted the inclusion of the banking sector in the program, with plans to offer shares in United Bank, Alexandria Bank, and Cairo Bank. He emphasized that the percentages for these offerings will be announced soon, reflecting the government’s commitment to increasing private sector participation in key financial institutions.
The program also includes several state-owned companies, such as the Jabal Al-Zeit wind station in the renewable energy sector, Al-Amal Al-Sharif Plastic Company, Egypt for Pharmaceutical Industries, and the Seed Company for Pharmaceutical Industries. These offerings aim to attract investments in diverse sectors, enhancing the government’s privatization efforts.
Regarding Armed Forces-affiliated companies, Madbouly confirmed plans to list Wataniya, Safi, Silo Food Industries, and Chill Out on the Egyptian Stock Exchange in 2024. Wataniya and Safi are scheduled for listing by midyear, followed by Silo and Chill Out by year’s end. These moves represent a significant step in increasing transparency and private sector involvement in military-affiliated enterprises.
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