Egypt is considering selling a stake in the country’s stock market, state-run Middle East News Agency reported today.
Shareholders might include banks, financial institutions, brokerage firms and investors, Cairo-based MENA said, citing Ashraf El-Sharkawy, chairman of the Egyptian Financial Supervisory Authority. The government would retain a majority stake. The move requires parliamentary approval, El-Sharkawy said.
El-Sharkawy didn’t answer two calls by Bloomberg News to his mobile phone.