Tuesday February 27th, 2024
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Egypt’s IPO Programme Attracted USD 3.5 Billion Investments in a Year

The government is aiming to attract USD 5 billion through the IPO Programme.

Cairo Scene

The Ministry of Finance revealed that the Initial Public Offering (IPO) programme, which commenced in February 2023, has attracted USD 3.5 billion in investments so far.

The government’s IPO programme will offer 35 state-owned companies to strategic investors by the end of June 2024 in order to attract greater investment in a multitude of sectors, with an aim  of USD 5 billion in total. A list of 32 companies was unveiled in February 2023, with an additional three companies added later in the year, namely Eastern Company, Al Ezz Dekhila and Telecom Egypt.

The IMF has projected a financing gap of USD 17 billion for Egypt by 2026, with an estimated shortfall of USD 6 to USD 8 billion for the current fiscal year, 2023/2024.

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