Government aiming to raise EGP6bn from sale of stakes in state-owned firms
Finance Minister, Amr El Garhy, said the government aims to raise EGP6bn (USD329mn) from the sale of stakes in state companies, without specifying which companies would be involved, or the size of the stakes that would be offered to investors. Officials had earlier announced that the government planned to offer shares in some public companies, mainly in the oil and financial sectors, on the stock exchange this year. The government is planning to sell minority stakes of 20-30% mainly through stock exchange offerings.
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