The Egyptian government’s next move as part of its IPO programme is to list an additional 20% stake of Abu Qir on the Egyptian Stock Exchange, according to Al Borsa. According to Hisham Tawfik, Minister of Public Enterprises, they expect to raise cEGP7-8bn from the share sale. The article also adds that, according to sources close to the matter, 90% of the share sale is expected to be executed with private institutions, with only 10% to be offered to the general public.
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