Cairo - Mubasher: The Egyptian deputy finance minister said on Tuesday that Egypt is targeting EGP 5 to 7 billion ($276-$387 million) through initial public offerings (IPO) of state-owned companies in the current fiscal year, according to Reuters.

Ahmed Kouchouk previously said last March that the IPO programme aims at obtaining EGP 6 billion, while the financial statement of the general budget for FY17/18 showed that the government is targeting EGP 7.2 billion from the sale of its stake in Banque du Caire.