Egypt to list four oil firms by 2026
The Egyptian government plans to list four subsidiaries of the petroleum and mineral resources sector on the Egyptian Stock Exchange before the end of 2026 as part of the government equity offering program. This comes after a provisional listing of three companies with a book value of approximately $687 million, aimed at reducing the state's role in the economy and increasing private sector participation. The provisional listing is expected to transition into a permanent listing within six months, during which trading of the shares will be prohibited. This step includes expanding the base of listed companies and achieving government goals to increase revenues and enhance private sector involvement as part of the economic reform plan supported by the International Monetary Fund.
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