Egyptian Prime Minister: Offer shares of 5-6 government companies on the stock exchange until June 2020
Economy News - Baghdad
Egyptian Prime Minister Mostafa Madbouly said that his country will offer shares of government companies in the stock exchange during the current fiscal year until June 2020 to encourage the private sector and citizens to invest.
Madbouly's comments, which came in a press release issued by the Council of Ministers on Tuesday evening, on the IPOs after the main Egyptian index lost about 11 percent during the last three sessions and its shares lost about 66 billion pounds of market value.
The Egyptian government announced in March 2018 its intention to list stakes in about 23 companies in the stock exchange, as part of a program to raise 80 billion pounds from offering minority stakes in the local stock market.