Egypt is looking to offer shares in eight to 10 state companies on the stock exchange over the next 18 months, Finance Minister Amr El-Garhy told Reuters on Sunday, as part of a drive to attract foreign investors.

The government is launching an IPO programme that will offer shares in dozens of state-owned companies over the next three to five years in areas including oil, services, chemicals, shipping and real estate.

The government said previously they expected the first share offering in the first quarter of 2018, in oil company ENPPI.