Egypt sovereign fund expects relaunch of IPO program in October
Soliman expected the new fiscal year to witness "a significant breakthrough" in the IPO scheme, particularly as of October.
Under the State Ownership Policy Document, which determines the state's presence in the economic sectors and seeks to enhance the private sector's participation in public investments, Egypt's IPO program aims to offer 35 state-owned companies to strategic investors.
In February 2023, a list of 32 companies was unveiled.
According to government officials, the scheme has attracted investments worth $3.5 billion out of $5 billion targetted by the government.
The upcoming IPOs will focus on financial technology sectors, Soliman added in TV remarks to Al-Arabiya business on Sunday on the sidelines of the second and final day of the Egypt-EU Investment Conference in Cairo.
He also noted that during the two-day event, the TSFE signed 15 framework deals (worth over €30 billion) with European partners in food, renewable energy, green hydrogen, and manufacturing.
The Egypt-EU Investment Conference kicked off on Saturday in the presence of Egyptian President Abdel-Fattah El-Sisi and European Commission President Ursula Von der Leyen.
The event is the first major step in implementing the Egypt-EU Strategic and Comprehensive Partnership, agreed upon by both sides during the Egypt-EU Summit in March 2024 in Cairo.
Under the agreement, Egypt would receive €7.4 billion in funding from the EU until 2027.
On the conference's opening day, Von der Leyen expected the conference to yield €40 billion in new deals between Egypt and EU partners.