The newly approved companies include Misr Travel, Chemical Industries Development (CID), Egyptian General Company for Tourism and Hotels (EGOTH), and El Nasr for Fertilizers and Chemical Industries Co.
The Egyptian Exchange (EGX) has approved the temporary listing of four additional state-owned companies on the main market, as part of the government’s ongoing IPO program aimed at expanding private sector participation and maximizing returns on state-owned assets.
The newly approved companies include Misr Travel, Chemical Industries Development (CID), Egyptian General Company for Tourism and Hotels (EGOTH), and El Nasr for Fertilizers and Chemical Industries Co..
According to a statement issued by the EGX listing committee following Thursday’s session, the companies were granted temporary listings on the main market pending future share offerings within the next six months.
The EGX approved the temporary listing of Misr Travel with issued capital of EGP 125.8 million, distributed over 20.96 million shares at a nominal value of EGP 6 per share.
Meanwhile, Chemical Industries Development (CID) will be temporarily listed with issued capital of EGP 400 million, divided into 40 million shares at a nominal value of EGP 10 each.
The listing committee also approved the temporary listing of Egyptian General Company for Tourism and Hotels (EGOTH) with issued capital amounting to EGP 3 billion, distributed over 30 million shares at a nominal value of EGP 100 per share.
In addition, El Nasr for Fertilizers and Chemical Industries Co. will be listed temporarily with issued capital of EGP 630 million, divided into 63 million shares at a nominal value of EGP 10 per share.
The move follows the EGX’s approval in April of the temporary listing of six other state-owned companies, including El Nasr Housing and Development, Sinai Manganese Company, Transport and Engineering Company, The Arab Contractors (Osman Ahmed Osman & Co.), National Company for Construction and Development, and National Investment and Development Co. (NIRCO).
The listings are part of Egypt’s broader state ownership and privatization strategy, which seeks to improve corporate governance, enhance market liquidity, and attract both local and foreign investment.
Earlier this month, Hashem El-Sayed, Assistant to the Prime Minister and CEO of the State Ownership Unit, said the government had finalized an inventory of former public business sector companies ahead of listing 20 firms on the stock exchange. He added that 12 companies have already been listed, while preparations are underway for the temporary listing of eight additional firms.
