ECOVIS Egypt in Cairo

Tax advisors, accountants and auditors in Egypt


193 El-Orouba St., Heliopolis

11361 Cairo


Tel.: +20 2-22 66 00 09

The Finance Ministry unveils its state IPO program


The Finance Ministry announced its company line up for its state IPO program. The uncovering was of 23 state-owned companies whom will either IPO or list additional shares on EGX as per a statement issued by Ismail’s cabinet. The offering will be between 15% to 30% of each of the companies. The cumulative value of the listings, which will take place over the coming 24-30 months, is expected to reach EGP 80 bn and would raise their collective market capitalization to EGP 450 bn, the ministry added.

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