By: Ahmed Alam

Cairo – Mubasher: ENPPI Petroleum will launch an initial public offering (IPO) on the Egyptian Exchange (EGX) during the first quarter of 2018, Egypt’s minister of investment and international cooperation Sahar Nasr said.

Nasr agreed with the new EGX’s board on establishing new programmes to innovate new mechanisms for the EGX to speed up the implementation process of the governmental IPOs, she added.

Vice chairman of the EGX Mohsen Adel expects seeing between three and five medium-sized and large initial public offerings (IPOs) before the end of the current year.

The targeted IPOs of public sector firms includes Alexandria Mineral Oils Co (AMOC) and Sidi Kerir Petrochemicals.

Egypt targets investments of EGP 10 billion in the next three years as part of the governmental IPOs programme.

Translated by: Mai Ezz El-Din