Cairo — Four leading investment banks have submitted bids to manage and promote the listing of state-owned companies on the Egyptian Exchange, as Egypt moves to accelerate its public offerings programme, according to a government official cited by Asharq Business.
The bids include CI Capital, Al Ahly Pharos, EFG Hermes, and Arqaam Capital, all seeking roles as advisers and bookrunners for upcoming offerings.
The initiative is being overseen by Egypt’s State Ownership Unit, established in late 2025 to restructure public assets and expand private sector participation. Officials indicated that the programme may be broadened to include around 30 companies across multiple sectors, reflecting a wider push to deepen capital markets.
The listings form part of Egypt’s commitments under its economic reform agenda and cooperation framework with the International Monetary Fund, aimed at boosting liquidity and attracting foreign investment.
Government data show that progress has been uneven since 2022. While earlier phases of the programme achieved high execution rates, later stages have slowed, with more recent offerings generating significantly lower proceeds relative to targets.
Several companies have already been temporarily listed as part of preparatory steps ahead of full offerings, including firms in construction, mining, and industrial sectors.
The Middle East Observer notes that competition among leading investment banks signals renewed momentum in Egypt’s IPO pipeline, particularly as authorities seek to revive investor interest and improve execution.
The Middle East Observer further observes that the success of upcoming offerings will depend on market conditions, pricing strategies, and investor appetite, as Egypt works to reposition its capital markets as a key financing channel for state assets.
