Egypt seeks to collect $5 bln from state IPO program by mid-2024

The report showed that Egypt plans to offer stakes in the Siemens Beni Suef power plant, Gabal El-Zeit wind power plant, and Zafarana wind farm, in addition to Safi and Watanya, companies owned by the military.

The Egyptian government announced that it collected $5 billion from offering stakes in 13 companies between March 2022 and July 2023.

The government plans to offer stakes in 35 state-owned companies to strategic investors by the end of June 2024, under the State Ownership Policy Document.  A list of 32 companies was released in February 2023 and three companies were added to it later this year; Eastern Company, Al Ezz Dekhila, and Telecom Egypt. 

Siemens Beni Suef
 

The government aims to collect up to $1.8 billion for 70 percent of shares in the Siemens power plant in Beni Suef.

The deal is expected to be finalized in June 2024.