The Clap
Hala El Said, Minister of Planning, said that the government plans to offer 10 state-owned companies before the end of 2022, with a total value of $6 billion.
The Deets
El Said said the companies will either be listed on the EGX or offered to strategic investors.
The purpose of the offerings is to inject new capital into these companies, rather than an exit from the government.
Procedures
The offering will take place over two stages, offering between 20%-30% of the companies for around $2.5 – $3 billion in each phase.
The first batch companies will be announced within a month from now.
But
The offerings will depend on the conditions of global markets.
What Now
Negotiations are currently underway with a number of foreign investors to enter the fund. The companies that will be offered are yet to be determined.
$6 billion worth of listings in 2022? 👀
