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Elham AbolFateh

Business

Gov’t plans to sell major companies on EGX in 2018-19 FY

Thursday 12/July/2018 - 08:37 PM
Sada El Balad
Hassanein Tayea
Ahmed Kojak، Deputy Minister of Finance for Monetary Policies said that the government plans to offer shares of four major companies on the EGX in 2018-2019 fiscal year under its IPO program.

The issuances are expected to raise EGP 20 billion، according to the deputy minister، who also said that the IPO program’s schedule and lineup is “flexible” and “could be amended” depending on how ready some companies are compared to others.

In a press conference، Kojak said that the government targets pumping new investments in the stock market، noting that this will reduce resorting to borrow from abroad.

He pointed out that more details regarding the selling of the four companies will be announced during the next few days.

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