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Thndr Claps » EGY Claps » Economy 🏙 » State-owned companies’ listing in advanced stages 🏁

State-owned companies’ listing in advanced stages 🏁

by Omar El Shorafa
January 12, 2023

The Clap
The Sovereign Fund of Egypt added 5 companies to the “Pre-IPO fund,” according to Asharq.

What
The companies are:

  • Safi
  • Watanya Petroleum Company
  • Banque du Caire
  • Misr Life Insurance
  • Egyptian Linear Alkyl Benzene (ELAB)

The SFE added these companies to the Pre-IPO fund in order to sell 20%-30% stakes in them.

So What
This step means that the government is following the IMF’s plan to implement the government offerings program, which will bring Egypt a large inflow to pay off its debts.

Now What
During January 2023, the SFE will conduct a promotional tour to present investment opportunities in these companies.

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