Egypt to list two oil firms next September

The Egyptian government announced that it has decided to list two companies from the oil sector on the Egyptian Stock Exchange in the coming months, as part of the implementation of the government offering program. The selected companies include Alexandria Petroleum Maintenance Company "Petromont" and the Egyptian Ethylene and Derivatives Company "Egythidco," which are currently completing the listing procedures. The goal of this program is to reduce the state's role in the economy and increase private sector participation, as part of an economic reform plan aligned with the International Monetary Fund's conditions. Approximately four other government companies are also preparing for offering on the market in 2024.

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