The Sovereign Fund of Egypt (SFE) started receiving offers from investors to buy shares of Wataniya and Safi companies, affiliated to the National Service Projects Organization of the Armed Forces, the CEO of the SFE Ayman Suleiman announced
The IPO is expected to be completed within a few weeks, after which shares of the two companies will be offered on the stock exchange later.
Suleiman added that the fund will raise its capital after the completion of the evaluation of the assets of the Misr Insurance Holding Company, which has recently been included under the Sovereign Fund of Egypt.
There is no specific percentage has been identified, adding that investors have the right to apply for the purchase of any percentage in these companies, according to the EFE CEO.Safi and Wataniya are both on the list of the 32 state-owned companies the government plans to offer to strategic investors by the end of the first quater of 2024.
The Sovereign Fund of Egypt (SFE) started receiving offers from investors to buy shares of Wataniya and Safi companies, affiliated to the National Service Projects Organization of the Armed Forces, the CEO of the SFE Ayman Suleiman announced.
The IPO is expected to be completed within a few weeks, after which shares of the two companies will be offered on the stock exchange later.
Suleiman added that the fund will raise its capital after the completion of the evaluation of the assets of the Misr Insurance Holding Company, which has recently been included under the Sovereign Fund of Egypt.
There is no specific percentage has been identified, adding that investors have the right to apply for the purchase of any percentage in these companies, according to the EFE CEO.
Safi and Wataniya are both on the list of the 32 state-owned companies the government plans to offer to strategic investors by the end of the first quater of 2024.
If you see something out of place or would like to contribute to this story, check out our Ethics and Policy section.
