The Clap
The committee overseeing IPOs will meet next week, which could be an indication that some government companies are close to being listed, according to the Minister of Finance, Mohamed Maait.
Backstory
The government was preparing to list 10 state-owned companies in 2022, but the plan was halted due to the crisis of the Russian-Ukrainian war.
Why this Matters
Listing state-owned companies on the EGX will help attract more investors to the market, in addition to accomplishing the government’s exit plan from some sectors in favor of the private sector.
The announcement also comes at a time when Egypt is close to securing a loan from the IMF, which will help solve the liquidity crisis that worried investors.
What Now
As part of the government’s plan, Safi and Wataniya are being prepared for listing on the EGX.
Are government companies close to being listed? 🤨
