Four Egyptian Armed Forces-affiliated companies to go public in 2025: PM Madbouly

Rehab Magdy , Wednesday 11 Dec 2024

Prime Minister Mostafa Madbouly announced at the weekly cabinet press conference that, for the first time, Egypt will list four companies affiliated with the Armed Forces on the Egyptian Stock Exchange (EGX) in 2025.

Prime Minister Mostafa Madbouly
Egyptian Prime Minister Mostafa Madbouly speaks during the weekly cabinet press. Photo courtesy of the Egyptian cabinet Facebook page.

 

Madbouly explained that the country plans to begin by listing the National Company for Petroleum Products Marketing and Distribution (Wataniya), partially divided by the government with 174 of its 300 fuel stations transferred to a new entity, and the National Company for Natural Water in Siwa (SAFI) in the first half of 2025.

Established in 1996, SAFI produces 50 million water bottles annually from a 1,000-metre-deep well and 600 tons of virgin olive oil per year.

Following this, Egypt will list Silo Foods for Food Industries, a company specializing in the production of food products such as grains, baked goods, and packaged meals to support national food security; and ChillOut, a chain of fuel stations owned by the NSPO through its subsidiary, the National Company for Roads.

Madbouly also revealed that Egypt plans to list over 10 companies in 2025, either through public offerings or in partnership with strategic investors, as part of a broader initiative to increase the number of public companies' initial public offerings (IPOs).

The list of 10 companies to be offered includes stakes in Alexandria Bank, Banque du Caire, the Jabal El-Zeit Wind Farm, Alamal Alsharif Plastics, Misr Pharma, and the Chemical Industries Development Company (CID). 

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