馃嚜馃嚞EgyptNorth Africa
Egyptian Exchange approves temporary listing of six state-owned firms
via Egypt Today2 min read
The Egyptian Exchange has approved the temporary listing of six state-owned companies, with plans to offer their shares for trading within the next six months as part of the government鈥檚 IPO program. These companies have a combined issued capital of approximately LE 1.24 billion. Four firms, Al-Nasr Housing and Development, Sinai Manganese, Spring & Transport Needs Manufacturing Co, and the Egyptian Contracting Co. AL Abd, will be listed on the main market. The remaining two, National Asset Management & Investment Company and National Investment and Development NIRCO, will be listed on the SME board. According to Hashem El-Sayed, CEO of the State Ownership Unit, these listings are part of efforts to improve the efficiency of state-owned enterprises and maximize returns on public assets. Omar Radwan, chairman of the exchange, stated that this initiative is expected to deepen the market, boost liquidity, and attract increased local and foreign investment. This follows the listing of six other state-owned firms earlier this month, as Egypt continues to expand its public offerings.
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This summary was AI-generated from a story originally published by Egypt Today.
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