Egyptian Exchange Temporarily Lists 4 Government Firms
The Egyptian government has announced a temporary listing of three subsidiaries of the petroleum sector on the stock exchange, as a preliminary step to offering parts of their shares for trading. This move is part of the government’s program to enhance corporate efficiency and expand ownership. The companies include Enppi, Elab, and Marine Petroleum Services, with a combined capital of $687 million. Currently, a financial assessment is underway to determine their fair market value. This step is part of Egypt’s efforts to attract investments and expand the private sector within the framework of the state asset sale program, which is aligned with an agreement with the International Monetary Fund.
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