Egypt: The Sovereign Fund of Egypt (TSFE) has started preparing Misr Technology Services (MTS) for a public offering by the first half of next year, according to informed sources. The sources told Daily News Egypt that the offering will involve the Ministry of Finance selling part of its stake, which exceeds 50% of the company. The pre-IPO fund aims to maximize the value of the companies and enhance their governance and performance. The shareholders include the Ministry of Finance, the Egyptian Financial Facilities Management Company, the National Investment Bank, the Egyptian Company for Investment Projects, and Amiral Management Corporation. MTS is the technical arm of the Ministry of Finance in the field of customs and taxes.

Source: Daily News Egypt September 19, 2023 07:32 UTC