Cairo – Mubasher: The Egyptian government is set to float shares of five to six state-run companies on the Egyptian Exchange (EGX) during fiscal year 2019/2020, the country’s prime minister Mostafa Madbouly said.

Five to six state-owned firms are expected to go public during the coming period, Madbouly revealed in a statement on Tuesday.

Earlier in September, the public enterprise minister Hisham Tawfik said that the second phase of the state privatisation programme has been postponed from the scheduled date of September to January 2020.

In March, the government sold an additional stake of 4.5% in tobacco manufacturer Eastern Co, as part of the first phase of the initial public offering (IPO) programme.