Egypt to sell shares in engineering group ENPPI

By News Editor 1 year ago
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Following years of economic stagnation since 2011 uprising, Egypt’s government has announced plans to sell shares of the state owned energy company ENPII. The shares will be sold via an IPO organized by the state run bank NI Capital, and expects to raise between $100-150 million.

Only 24% of shares would be placed on offer in the IPO, but this still signals the Egyptian government’s intent to move away from its state run enterprises.

 

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