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Egypt to list 4 public sector companies this year

Deya Abaza , Monday 6 Apr 2015
Egyptian Investment Minister Ashraf Salman
Egyptian Investment Minister Ashraf Salman attends during the signing of an agreement between the Ministry of Investment and the new Suez Canal during the final session of the Egypt Economic Development Conference (EEDC) in Sharm el-Sheikh, in the South Sinai governorate, south of Cairo, March 15, 2015 (Photo: Reuters)
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Egypt will list four public sector companies on the stock exchange in the coming months, starting with two state-owned petroleum companies, Investment Minister Ashraf Salman announced on Monday.

The details of the Initial Public Offerings for the two petroleum companies will be announced this week, the minister added.

The government has not listed state-owned companies on the stock exchange since 2005, when Telecom Egypt, Sidi Kerir Petrochemicals and Alexandria Mineral Oils Company offered shares.

But plans to again list state-owned companies, with the aim of restructuring them through a partnership with the private sector, were announced by Egypt’s premier in May of last year.

 

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