The government has announced its intention to privatize 23 state companies through a share offering

The government has announced its intention to privatize 23 state companies through a share offering. “They included Banque Du Caire, one of the country’s largest banks, major oil companies Middle East Oil Refining (MIDOR) and Engineering for Petroleum and Process Industries (ENPPI), as well as Misr Insurance Company. The government had said that it intended to sell shares in dozens of state companies to boost public finances and draw more investors to the Cairo exchange, but had previously only identified a handful of companies as candidates.”