Egypt expects two state-owned companies and one private pharmaceuticals firm to make share offerings by the end of the year.
Monday 16, September 2019 BY MUZORIWA KUDAKWASHE
The Head of Egypt’s Financial Regulatory Authority corporate finance department expects two state companies and one private pharmaceuticals firm worth more than EGP 1 billion ($61.3 million) to make share offerings by the end of the year.
Sayed Abdel Fadeel, the head of the authority's corporate finance department, said that one small company worth about EGP 50 million was also expected to offer shares on the Nile Stock Exchange, which specialises in small and medium-sized enterprises.
Egypt promised to sell minority stakes in several state companies in late 2018 but postponed the offerings following unfavourable emerging market conditions, reported Reuters.