The Egyptian government is planning to unveil the plan for offering state-run companies on the Egyptian Exchange (EGX) in 2023 within two weeks, Asharq Business reported on January 28th, citing Prime Minister Mostafa Madbouly.

This announcement has been made after a series of postponements for the plan due to the unfavorable conditions of the market.

The implementation of the IPO program comes in line with the government’s direction towards activating the State Ownership Policy Document, as well as promoting the role of the private sector and bolstering the securities market.

Moreover, Madbouly remarked that the Cabinet would reveal the names of the companies to be offered on EGX throughout 2023 soon.

 

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