From the Field
Egypt mulls oil IPOs
CAIRO, August 2, 2016 – Egyptian Minister of Petroleum and Mineral Resources Tarek El Molla on Tuesday said that eight of the country’s state-owned energy industry entities are being considered for a listing on the Egyptian Stock Exchange.
Speaking to Reuters, El Molla said that the assessment will be carried out by the Ministry of Investment. “We sent the names of eight petroleum companies to the Ministry of Investment last week to be studied, paving the way to issuing some of their shares on the bourse or increasing their capital,” he said.
According to El Molla, the names include Middle East Oil Refinery, Egyptian Ethylene and Derivatives Company, Alexandria Mineral Oils and Misr Fertilizers Production Company. The minister declined to comment on a timeline for the possible IPOs.
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