الهيئة العامة للرقابة المالية

• Hashem El-Sayed, Assistant Prime Minister and Chief Executive Officer of the State-Owned Enterprises Unit: Listing these companies underscores the State’s commitment to the IPO program and broader private sector participation.
• Mohamed Sabry, EGX Vice-Chairman: listing of state-owned companies significantly enriches market diversity and scales up the Exchange’s sectoral depth.

Within the framework of national efforts to bolster the Capital Market and expand the ownership base, the Egyptian Exchange (EGX) celebrated the temporary listing of six state-owned enterprises (SOEs). The ceremony was held in the presence of FRA Chairman Dr. Islam Azzam, and Dr. Hashem El-Sayed, Assistant Prime Minister and CEO of the State-Owned Enterprises Unit. Also in attendance were Mr. Mohamed Al-Sayyad – FRA Vice-Chairman, Mr. Mohamed Sabry – EGX Vice-Chairman, and chairs of the newly listed companies and Capital Market executives.

This listing comes as part of the implementation of the Government IPO Program, which aims to deepen the Capital Market, increase the number of listed companies, and expand private sector participation in economic activity. These efforts contribute to increasing liquidity and trading volumes while enhancing the market’s attractiveness to both local and foreign investors.

Dr. Islam Azzam, FRA Chairman emphasized that listing of these companies represents a qualitative step toward bolstering confidence in the Capital Market and expanding the base of listed companies. This, in turn, supports the growth of market capitalization and enhances market efficiency and depth.

He noted that temporary listing serves as a strategic preparatory phase, allowing companies to prepare for their Initial Public Offerings (IPOs) through voluntary compliance with disclosure and governance rules applicable to listed companies. This contributes to raising transparency levels and fostering investor confidence.

He added that this phase offers several core advantages, most notably:

• Institutional and organizational qualification of companies to align with listing and trading requirements;
• Enabling companies to gain practical experience within the market environment;
• Facilitating the pre-marketing of companies to a broader investor base;
• Streamlining the IPO process by enhancing corporate preparedness and facilitating the underwriting efforts of investment banks.

He further explained that the Authority continues to develop the legislative and regulatory environment supporting listing and IPO processes, while working to simplify procedures and enhance the readiness of companies—particularly state-owned ones—to achieve a balance between protecting investor rights and facilitating access to financing.

For his part, Dr. Hashem El-Sayed, Chief Executive Officer of the State-Owned Enterprises Unit, affirmed that this listing reflect the State’s drive to execute the Government IPO Program while maximizing the efficiency of its assets. This step aims to capture peak economic value and broaden the scope of private sector engagement in the national economy.

He noted that the Unit collaborates with all relevant stakeholders to prime companies for listing and trading, thereby institutionalizing higher levels of governance and transparency to ensure optimized returns for the State.

Mr. Mohamed Sabry, EGX Vice-Chairman further explained that listing of this number of state-owned enterprises represents a qualitative addition to the market, in terms of both sectoral diversification and immense scale of operations. He emphasized the Exchange’s ongoing commitment to develop its infrastructure and trading systems in alignment with global best practices.

Temporary listing serves as a pivotal bridge toward an Initial Public Offering, allowing companies to cultivate a robust disclosure track record, refine operational frameworks, and solidify investor confidence. Such preparation is critical to the efficacy of the offering process and the strategic success of the Government IPO Program.