Minister of Planning, Follow-up, and Administrative Reform Hala Al-Saeed said that the programme of the government IPOs is due to begin in the last quarter of 2018.
Al-Saeed said in a press statement on the sidelines of the Egypt Government Excellence Conference held in cooperation with the United Arab Emirates, that there is no delay in the programme and will proceed according to the plan, noting that the government seeks to float six to eight companies before the end of the year.
The government had earlier agreed to put 23 government companies within 24 to 30 months in the sectors of oil and petrochemicals, banks, financial services, information technology, and real estate with an expected yield of EGP 80bn.
Notably, Minister of Finance Mohamed Moeit confirmed in a statement issued by the ministry that the commitment of the government is in the near future to implement the programme of government proposals.
He said that the Ministry of Finance is currently coordinating with all the ministries involved in the programme to choose the most appropriate timing to start the IPO, especially that only a few days are left in this month, which would not be enough to draw the attention to the IPOs.