Published on 6/28/2026
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Last update: 15:06 (Mecca time)
Today, Sunday, the Egyptian government announced the temporary listing of 4 state-owned companies on the stock exchange within the government offerings program, in a new step that “reflects the state’s commitment to implementing its ambitious program to enhance the efficiency of its owned companies, expand the ownership base, and stimulate the capital market.”
The Council of Ministers said in a statement that the temporary registration included 3 companies affiliated with the oil sector, which are:
- Engineering Company for Petroleum and Chemical Industries (Enppi).
- Egyptian Company for the production of Linear Alkyl Benzene (ELAB).
- Petroleum Offshore Services (PMS) Company.
In addition to Al-Maamoura Company for Reconstruction and Tourism Development, affiliated with the Holding Company for Tourism and Hotels.
A separate statement from the Ministry of Petroleum said that the total capital of the three petroleum sector companies amounts to $687 million.
The initial registration – according to the Ministry of Petroleum – is a step that precedes the offering of percentages of companies’ shares for trading on the Egyptian Stock Exchange, after the completion of the financial evaluation work conducted by an independent, certified financial consultant to determine the fair value of each company, in a way that reflects the reality of its financial positions and the results of its work, and ensures achieving the highest possible value for the state and investors alike.
Hussein Issa, Deputy Prime Minister for Economic Affairs, said that this step represents an important milestone within the government proposals program that the state is implementing according to a clear vision.
He added that this step “aims to maximize the return on state-owned assets, raise the efficiency and competitiveness of companies, improve their management systems, enhance their ability to expand and grow, and expand the participation of the private sector.”
He pointed out that the IPO program includes the registration of 10 companies from the petroleum sector, the temporary registration of three of which has been completed so far.
For his part, Minister of Petroleum and Mineral Resources Karim Badawi announced the launch of the first phase of listing the sector’s companies on the Egyptian Stock Exchange.
The minister said in a speech during the opening of the stock exchange session that the listing of the shares of 3 new companies from the petroleum sector on the Egyptian Stock Exchange represents the actual launch of the first phase of the program for offering companies in the sector, within the framework of the government offering program that aims to maximize the use of state assets, expand the ownership base, and increase the private sector’s contribution to the Egyptian economy.
He added that this offering reflects the strength of the sector’s companies and the solidity of their financial positions and establishes a new phase of governance and attracting investments.
In turn, the head of the Financial Supervision Authority, Islam Azzam, pointed out that the joining of petroleum sector companies to the stock exchange represents an important addition to the Egyptian financial market, and contributes to the diversification of investment sectors, while the head of the Egyptian Stock Exchange, Omar Radwan, considered that the temporary registration of these companies represents an important step towards expanding the base of listed companies, increasing the depth of the market, and providing new investment opportunities, thus enhancing the position of the Egyptian Stock Exchange and its role in supporting the national economy.
In August, Egypt approved legislative amendments aimed at accelerating the sale of state-owned assets. The program to sell state-owned assets is a cornerstone of the loan agreement between Cairo and the International Monetary Fund.
Egypt previously announced plans to list 30 companies on the country’s stock exchange as part of the asset sale program agreed upon with the International Monetary Fund.
Investment Minister Mohamed Farid Saleh said that it is expected that 4 state-owned companies will be registered before May 2027, and that the government has achieved or even exceeded the goals of the International Monetary Fund program, such as the country’s fiscal deficit and primary surplus.
Egypt suffers from high debt, and interest payments alone accounted for nearly half of government spending during the current fiscal year.
Source: Al Jazeera + Reuters + social media sites
