Business Maverick: Egypt Readies What May Be Its Biggest IPO as New Capital Emerges

President Abdel Fattah El-Sisi said Saturday that the company has 100 billion pounds in liquid assets and as much as 4 trillion pounds in total holdings. Telecom Egypt staged Egypt’s biggest IPO in 2015 when it raised 5.1 billion pounds.

The new capital east of Cairo represents a three-phase project that envisages transforming a 700 square-kilometer swath of desert — roughly equal to the size of Singapore — into a modern hub for government buildings, foreign embassies, major companies and featuring Africa’s tallest tower. About three years ago, the government identified 23 state-owned firms that could be listed on Egypt’s stock exchange or may potentially sell additional stakes. Only one has been offered so far, with the global pandemic contributing to delays.

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Источник: dailymaverick - 🏆 3. / 84 Прочитайте больше »