CI Capital hopes to bring 4 companies to Egypt stock exchange in 2020

Egyptian investment bank CI Capital hopes to offer the shares of four companies, including minority stakes in two controlled by the government, on the Egyptian stock exchange this year, its co-chief executive said on Wednesday.

The bank is ready to manage the initial public offering of the state-owned Engineering for Petroleum and Process Industries company (ENPPI) and the offering of an additional stake in the listed Abu Qir Fertilizers and Chemical Industries, Hazem Badran said at a news conference.

The government said in 2018 it planned to sell minority stakes in 23 state-owned companies in an initial phase of privatization, part of a plan to raise up to 80 billion Egyptian pounds ($4.97 billion).