Egypt Government to Start IPO Program With Oil Companies
- Authorities aim to raise $10 billion within 3 to 5 years
- Egypt has also reached an initial $12 billion IMF loan deal
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Egypt is set to launch its initial public offerings in government-owned companies with oil sector businesses, aiming to collect up to $10 billion dollars within three to five years, the minister of investment said.
The government is studying which companies will participate in the program, Minister of Investment Dalia Khorshid said in an e-mailed response to questions. The government will pick local and international investment banks to advise on the offerings.