Egypt is launching a new “pre-IPO” fund to support companies in their journey to getting listed on the Egyptian stock exchange, Minister of Planning and Economic Development Hala El-Said stated.
The pre-IPO fund aims to acquire public stakes in a number of public institutions to attract more investment, it will also work with strategic investors including sovereign wealth funds ahead of public offerings.
The IPO program aims to foster foreign direct investments in the stock market and accelerate the implementation of the government’s plan to exit certain sectors as per the State Ownership Policy Document.
Saudi Arabia’s Public Investment Fund launched Saudi Egyptian Investment Company to boost investments in Egypt earlier in August this year.
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