Including road builder
Food producer also on list
Listings over next two years
Egypt has finalised plans to offer stakes in five military-affiliated companies for listing on the local stock exchange in initial public offerings (IPOs).
The companies to be listed are the National Company for Producing and Bottling Water (Safi), Wataniya Petroleum, the fuel station operator Chillout, the food production company Silo Foods and the National Company for Roads Building and Development, the Egyptian cabinet said.
The Sovereign Fund of Egypt and the Armed Forces National Service Projects Organisation have appointed underwriters to sell shares to the public in IPOs and list the five state-owned companies over the next two years.
Three years ago Egypt’s prime minister, Mostafa Madbouly, outlined a plan to list more state-owned companies, including several companies affiliated with the Egyptian military.
In 2023, Madbouly said that the privatisation programme generated $5.6 billion from the sale of full or partial stakes in 14 state-owned entities.
The International Finance Corporation, part of the World Bank, signed an agreement in 2023 to advise the Egyptian government on its sell-off programme.
The same year, Egypt’s assistant prime minister, Osama El Gohary, said that the country intended to divest stakes in 250 companies under its privatisation programme.
The EGX 30 index, which tracks the top 30 companies on the Egyptian Exchange, is currently up 5 percent from its 2025 low on January 13.
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