Egypt’s TSFE includes 5 companies in Pre-IPO Subfund
The Sovereign Fund of Egypt (TSFE) has included five companies in its Pre-IPO Subfund, two unnamed sources familiar with the matter told Asharq Business on January 12th.
This step paves the way for selling stakes ranging between 20% and 30% in these companies to strategic investors, the sources said.
These companies are National Co for Producing Natural Water (Safi), Misr Life Insurance, Egyptian Linear Alkyl Benzene (ELAB), and Wataniya Petroleum, in addition to, Banque du Caire, they revealed.
TSFE will launch a roadshow in January to promote investment opportunities in these companies, one of the sources noted.
Minister of planning and Economic Development Hala El-Said previously told Asharq Business that the Pre-IPO Subfund prepares for the initial public offerings (IPOs) of state-run companies at a value ranging between $5.5 and $6 billion.