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Source: بوابة الشروق
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Assistant to the Prime Minister Hashem El-Sayed said the government had decided to transfer four holding companies to the sovereign wealth fund—those in textiles, pharmaceuticals, tourism and construction—following six months of consultations and studies. The future of the holding companies for metal industries and chemical industries is still under review. He said the companies would be managed through the state’s investment arms and would not be sold. The government aims to raise $1.5 billion through its public offerings program by the end of December, having already raised about $658 million. The plan includes offering a 20% stake in Misr Life Insurance, with expected proceeds of $250 million, and completing the offering of Misr Aluminum.
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