The Clap
The government is exploring the idea of listing an additional stake in “Alexandria Mineral Oils” on the Egyptian Stock Exchange as well as injecting extra investments into the “Egyptian Chemical Industries” company, also known as “KIMA”. Both rumors came from sources speaking to Almal Newspaper.
What
Almal had reported that the government is looking into the possibility of offering additional stakes in already-listed companies. Names like Abu Qir Fertilizers, Sidi Kerir Petrochemicals, & the Export Development Bank. Sources added that some Emirati interest has been expressed in KIMA with the potential to acquire a stake in the future.
So What
Egypt’s petrochemicals sector is one of the more attractive sectors to investors, the sources said, adding that several institutions & investment funds are eyeing investments in the petrochem space.
Now What
Egypt’s Minister of Finance recently stated that the government’s list of 32 assets set to be offered to investors could jump to 40 assets, but no official announcements have been made since then.
