Egypt targets 8-10 flotations of state firms over 18 months

Cairo

EGYPT is looking to offer shares in eight to 10 state companies on the stock exchange over the next 18 months, Finance Minister Amr El-Garhy told Reuters on Sunday, as part of a drive to attract foreign investors.

The flotations will be the first batch in a programme to float stakes in dozens of state-owned companies over the next three to five years in areas including oil, services, chemicals, shipping and real estate.