FINANCIAL NEWS

Egypt aims to raise USD329mn from share sales in firms

22 Mar 2017

(MENAFN) Egypt plans to raise almost USD329mn from the sale of shares in state firms this year and in the coming year, which is part of government efforts to generate income.

Furthermore, the country plans to offer shares in many public firms, mainly in the petroleum and financial sectors, on the stock exchange this year.

Additionally, the offerings will be its first since 2005, when the state sold shares in Telecom Egypt, AMOC and Sidi Kerir.

Accordingly, last year that eight petroleum firms were amid those being considered for privatization, while the government aims to offer 20pct of Banque du Caire.

MENAFN2203201700450000ID1095334560

MENAFN2203201700450000ID1095334560

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