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FINANCIAL NEWS
Egypt to raise USD267-USD387mn from state IPOS
24 May 2017
(MENAFN) Egypt predicts to raise between USD276-USD387mn amid the initial public offerings (IPO) of state-owned firms through this year and the coming year.
However, this is lower than the 7.2bn pounds the ministry in a draft budget for the cited years proclaimed it projected to raise amid an initial public offering of Bnque Du Caire.
The country has been struggling to revive its economy since a popular rising in 2011 led away tourists and foreign investors.
In addition, the last time state-owned firms were listed on the exchange was in 2005 when shares were floated in Telecom Egypt and oil firms Sidi Kerir Petrochemicals and AMOC.
MENAFN2405201700450000ID1095508188
MENAFN2405201700450000ID1095508188
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