Cairo: Dr. Mostafa Madbouly, Prime Minister, convened a meeting to monitor the procedures for the initial public offerings (IPOs) of companies affiliated with the Armed Forces, continuing his regular oversight of the announced company offerings. The meeting included Eng. Hassan Khateeb, Minister of Investment and Foreign Trade, Advisor Mohamed Aba Zaid, Legal Advisor to the Minister of Investment and Foreign Trade, Ms. Noha Rushdi Khalil, Acting Executive Director of the Sovereign Fund of Egypt, and Ms. Ghada Nour, Assistant Minister of Investment and Foreign Trade for Investment, Promotion, and Government Offerings.

According to State Information Service Egypt, the Prime Minister stressed the importance of creating a detailed plan and timeline for the IPOs of the Armed Forces companies at the beginning of the meeting. The discussion covered the steps being taken by the Sovereign Fund of Egypt to prepare these companies for listing.

Furthermore, an update was provided on the status and procedures for the offering of other previously announced companies. The Prime Minister emphasized the government’s dedication to advancing the listing process, in alignment with the State Ownership Policy Document. This move is part of the state’s commitment to support the private sector and implement the economic reform programme.

During the meeting, Dr. Madbouly assigned the Minister of Investment with the responsibility of overseeing the listing process and required regular reports on developments and actions taken. These reports should include the timeline for implementing the listing process, with the Minister being fully responsible for this file, ensuring swift and serious actions are taken.