Cairo – Mubasher: The value of initial public offerings (IPOs) in Egypt is forecasted to reach $1.16 billion within three years, according to a recent report by Baker McKenzie.
The report added that the IPOs’ total value is likely to amount to $332 million within 2018.
Total IPO values in Egypt are expected to peak at $549 million and $275 million in 2019 and 2020, respectively, the report highlighted.
In October, Bloomberg forecasted the Egyptian Exchange (EGX) to become a centre of IPOs in the Middle East within the next year.
At least six firms are planning to list their stocks on the EGX in 2018, the news agency noted.
Egypt is aiming at luring $10 billion investments as part of the government IPOs programme within the coming three years.