The Egyptian Cabinet has approved the qualifications of the National Petroleum Products Sales and Distribution Company and the Safi National Production Projects Company, part of the National Service Projects Organization, in preparation for listing on the stock exchange.
Egypt is seeking, according to the Sovereign Fund, to propose to the two companies to attract many foreign and Egyptian investors, and they have already discussed the type of participation, and when the opinions converge, the database is opened for examination, so that they have sufficient information with which the investor can submit an indicative financial offer.
According to the fund, Safi, one of the national service companies, can be offered on the exchange or to a strategic investor, and in both cases the fund will benefit from its investment.
Source: Cairo 24 + day seven