Photo: Egypt's cabinet official facebook page
Madbouly reviewed the government’s plan to expand its initial public offering (IPO) programme for state-owned firms, launched in 2023 to increase private sector participation in the economy. A number of state-owned companies are being prepared for listing, though the cabinet did not specify which entities are next.
The IPO programme initially aimed to offer 35 government companies to investors, targeting $5 billion in revenue under the State Ownership Policy Document. Cabinet spokesperson Mohamed El-Homsany said several legal amendments are under consideration to revitalize financial markets, boost market capitalization, and improve trading efficiency.
FRA Chairman Mohamed Farid said authorities are studying changes to the Capital Market Law to allow the Egyptian Exchange to become a joint-stock company, a step that could eventually pave the way for the bourse itself to go public. Farid said the move would enhance the exchange’s efficiency and competitiveness, increase the value of state assets, and lift market capitalization.
Officials are also considering listing central securities depositories on the exchange, which Farid said would improve transparency, strengthen governance, and enhance operational and financial performance.
Short link: