Four to six Egyptian governmental
companies will start selling LE 15 to 18 billion stakes at the Egyptian bourse as of
June till the beginning of 2019, according to a report by a ministerial
The companies operate in the fields of
petrochemicals, petroleum and industry, the report said.
The report was tackled during a meeting
chaired by Prime Minister Sherif Ismail and attended by the ministers of
petroleum, trade, finance, planning and public enterprise.
The meeting tackled means of issuing a
decision regulating the selling of shares of state-owned companies at the
The plan aims at activating the bourse
within the framework of the economic reform program and securing needed funds
for expanding these companies .
The plan is also meant to magnify state
asset revenues as well as investment flow in addition to encouraging citizens'
investment at the bourse.
The government has previously announced plans to sell stakes of 23 state-owned companies
to raise LE 80 billion within 24 to 30 months.
The list of companies included some companies already traded on the exchange and others that will hold an initial public offering.