The Siemens Beni Suef power plant
Egypt plans to collect $5bn through IPOs by mid-2024
CAIRO, August 30, 2023
The Egyptian government is planning to attract $5 billion from the initial public offerings (IPOs) of power plants and state-owned companies from October 2023 until the end of June 2024.
According to a report on the Government IPO Programme by the Cabinet's Information and Decision Support Centre (IDSC) carried by Ahram Online, Egypt plans to offer stakes in the Siemens Beni Suef power plant, Gabal El-Zeit wind power plant, and Zafarana wind farm, in addition to Safi and Watanya, companies owned by the military, a WAM report said.
The Egyptian government announced that it had collected $5 billion from offering stakes in 13 companies between March 2022 and July 2023.
The government plans to offer stakes in 35 state-owned companies to strategic investors by the end of June 2024, under the State Ownership Policy Document. A list of 32 companies was released in February 2023 and three companies were added to it later this year; Eastern Company, Al Ezz Dekhila, and Telecom Egypt.-- TradeArabia News Service
