March 18, 2018 / 3:23 PM / in a month

Egypt to offer about $4.5 billion in state company shares in IPO program: ministry

CAIRO (Reuters) - Egypt aims to offer about 80 billion Egyptian pounds ($4.55 billion) worth of shares in state companies as part of a program to IPO state enterprises on the Cairo bourse in coming years, a finance ministry statement said on Sunday.

Stakes being offered will range from 15-30 percent and include companies in petroleum, banking, and logistics, the statement said.

Most of the shares will be offered over the next 2.5 years, it added.

Reporting by Moemen Saeed Abdelkhalek; Editing by Catherine Evans

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