Egypt’s Cabinet nods to Wataniya, Safi IPOs

In 2020, the Sovereign Fund of Egypt picked Wataniya and Safi to be offered for the private sector as a first phase, with the initial public offerings to be launched eventually on the EGX

Staff Writer, Arab Finance

July 23, 2022

PHOTO

Egypt - The Egyptian Cabinet has agreed to prepare both Wataniya Petroleum Company and the National Company for Producing and Bottling Water (Safi), the subsidiaries of the National Service Projects Organization (NSPO), for listing on the Egyptian Exchange (EGX), according to a statement on July 20th.

In 2020, the Sovereign Fund of Egypt (TSFE) picked Wataniya and Safi to be offered for the private sector as a first phase, with the initial public offerings (IPOs) to be launched eventually on the EGX.

Prime Minister Mostafa Madbouly previously stated that the government seeks to float stakes in 10 state-owned companies on the EGX before the end of 2022.

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.