TaQa Arabia intends to float its shares on EGX during 2023

TaQa Arabia Company intends to float its shares on the Egyptian Stock Exchange (EGX) during 2023, according to the company’s Chairman, Khaled Abu Bakr.

This coincides with the Prime Minister's announcement last week of the details of the government's offering program to offer stakes in 32 companies on the stock exchange.

Although the company is owned by the private sector, it seeks to take advantage of the momentum that the market may witness with the start of implementing government offerings.

TaQA Arabia expects about LE 32 billion in investments during the period from 2023 to 2027. It also seeks to increase natural gas supply stations to 100 stations during 2023.

The company has established and operated a 65 megawatt solar power plant at an investment cost of LE 1.35 billion.

TAQA Arabia was established in 2006, and it is one of the companies of Qalaa Holdings. 

It operates in the energy distribution sector in Egypt, and it is affiliated with four companies: “TAQA Gas”, “TAQA Power”, “TAQA Petroleum”, and “TAQA Water”.