RIYADH: The Egyptian government has launched a new fund to assist government companies in getting listed on the stock exchange, the country’s Minister of Planning and Economic Development Hala El-Said told Bloomberg.
The “pre-proposal” fund will own stakes in a number of public institutions in order to attract more investment, said Elsaid who is also the Chair of Egypt’s Sovereign Wealth Fund.
The Egyptian government is preparing to relaunch its initial public offering program, coinciding with the call for the meeting of the Governmental IPOs Committee to convene this week.
The government was planning to list 10 government companies on the stock exchange this year, but the Russian-Ukrainian crisis delayed the plan.