By Mahmoud Salaheddin

Cairo-Mubasher: Egypt's Ministry of Investment will raise the free float of Alexandria Container and Cargo Handling on the Egyptian bourse, said Ashraf Salman, minister of investment.

On the sidelines of a workshop organised by the ministry, Salman said the government seeks to increase the number of listed companies as it will list three petroleum firms in the next period.

The minister told Mubasher that the government works on developing the Iron and Steel Company and will hold a meeting with one of the Russian companies this month.

Alexandria Container's issued and paid-in capital reaches EGP 132.2 million, of which 55.7% is owned by Holding Company for Maritime and Land Transport and 39.9% is held by Alexandria Port Authority. The free float reaches 4.2%.

Translated by Abdul Maguid Aboshahla