Prime Minister Mostafa Madbouly has said that the government aims to collect $2bn from its IPO programme before the end of next June. He pointed out that a unit will be formed to manage the government IPO programme. The Prime Minister added, during a press conference, that an advisor to the Prime Minister will be appointed to manage the IPO programme, and an international consultant will assist the government in the process. Madbouly explained that the Sovereign Fund of Egypt (TSFE) is negotiating with investment agencies to implement the offering programme, while the Central Bank is preparing the banks that will be offered. The government IPO programme includes 32 state-owned companies that will be offered on the Egyptian Exchange or to a strategic investor, or both.
