Sharm El-Sheikh – Mubasher: The Egyptian Exchange (EGX) has invited public sector companies to float shares, the bourse’s chairman, Mohamed Omran, said on Sunday.

"The Egyptian bourse hasn’t witnessed any initial public offerings (IPO) from public firms in 10 years," added Omran.

Egypt’s supply ministry said earlier that it had looked into floating a stake of the state-owned Food Industries Holding Company (FIHC).

Egypt last listed state-owned firms on the stock exchange in 2005, when Telecom Egypt, Sid Kerir Petrochemicals and Alexandria Mineral Oils Company offered shares.

The last IPO on EGX was Arab Cement, which was valued at about EGP 700 million at its May 2014 launch.