The Egyptian government announced the outcome of the government IPO program since its launch until now. The government explained, within its work program submitted to Parliament, that the total value of the companies and assets offered since the announcement of the IPO program until now amounted to $5.8 billion.
The Egyptian government's work program document - regarding Egypt's vision for the next 3 years - stated that the government has completed the first and second phases of the announced proposal schedule with a 100 percent implementation rate.
She added that this came in accordance with the policy of state ownership of assets and in continuation of the reforms adopted by the Egyptian state within the framework of enhancing the role of the private sector in economic activity and creating an economic environment that is supportive and attractive to investments.
She said that in this context, the program includes one sub-programme concerned with the Egyptian government’s efforts to enhance the role of the private sector in various economic activities and gradual exit from economic activity.
The document indicated that the efforts that the government will make include continuing to implement the policy of state ownership of assets and moving forward with the implementation of the government public offerings program, in addition to reducing the volume of public investments, which will contribute to increasing the levels of transparency and efficiency of the public offerings program, which focuses on adopting a sectoral approach and targeting activities. Attractive to foreign investors, enhancing the attractiveness of sectors, and ensuring appropriate and transparent pricing of transactions.
She added that this will be done in conjunction with the deal efforts included in the program, in addition to identifying state-owned companies that are scheduled to be sold, increased their capital, expanded their ownership base, or exit completely or partially. In the public interest.
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