Egypt is planning to raise up to $6 billion through the sale of stakes in state-owned companies before June 2023, Asharq Business reported on September 25th, citing Minister of Planning and Economic Development Hala El-Said.

The plan includes offering shares in those companies to the public or block sales to strategic investors, supported by the Sovereign Fund of Egypt (TSFE), El-Said added.

El-Said, the Chairperson of TSFE, noted that sovereign wealth funds in the GCC and other countries will be contacted for the launch of roadshows in Europe and Asia by the end of October to present investment opportunities in Egypt.

Regarding the Pre-IPO Fund, the minister noted that assets worth up to $3 billion are set to be directed to the fund within three to six weeks, including investments in a power plant established in collaboration with the German company Siemens.

It is noteworthy that Egypt recently launched the Pre-IPO fund, which targets restructuring some of the state’s assets and preparing them for IPO on the market.

On September 12th, El-Saeed stated the Pre-IPO fund launched by the Egyptian government works on preparing public sector companies for IPOs that could reach a value between $5.5 billion and $6 billion.

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