Egypt Targets Four More State-Owned Energy IPOs Before End of 2026

Egypt plans to list four additional state-owned companies from the petroleum and mineral resources sector on the Egyptian Exchange (EGX) before the end of 2026, as the government speeds up its privatization program aimed at expanding private-sector participation and attracting foreign investment.

A government official familiar with the plans said authorities are working to accelerate the offering program in the coming months, with several subsidiaries already restructuring and completing regulatory requirements ahead of their stock market debut.

According to the official, who requested anonymity because the plans have not been formally announced, some of the companies could initially receive temporary listings, a mechanism previously used to prepare state-owned enterprises for public offerings.

In June, the Egyptian government granted temporary listings to three petroleum-sector companies on the Egyptian Exchange, inclusing Engineering for the Petroleum & Process Industries (ENPPI), Egyptian Linear Alkyl Benzene Company (ELAB), and Marine Petroleum Services (MPS).

The combined book value of the three companies is estimated at approximately $687 million, equivalent to around EGP 35 billion.

ENPPI is the largest of the ten companies operating under Egypt's petroleum sector, with a book value of about $357 million, followed by ELAB at $210 million and Marine Petroleum Services at roughly $120 million.

The government divestment program forms a central pillar of Egypt's economic reform strategy under its agreement with the International Monetary Fund (IMF), which calls for reducing the state's role in the economy, increasing private-sector participation, and generating additional foreign currency inflows.

A temporary listing serves as a preparatory stage before a company's shares become publicly tradable. During this period, the Egyptian Exchange assigns the company a trading symbol while final listing procedures are completed.

Under current regulations, temporary listings are generally expected to convert into full listings within six months, although the deadline may be extended with approval from Egypt's Financial Regulatory Authority (FRA) if procedural delays occur.

Companies under temporary listing are prohibited from trading their shares but remain subject to the same disclosure requirements as listed firms, including reporting material developments to both the exchange and the market regulator.

Earlier this month, Prime Minister Mostafa Madbouly said the government had achieved its target under the state ownership program after 20 government-owned companies had been listed on the Egyptian Exchange by June 30, 2026.

Following the provisional listing of four additional state-owned companies, including three from the petroleum sector, the government reached the milestone it had previously set as part of its broader capital market and privatization agenda.

The planned offerings are expected to deepen Egypt's equity market while reinforcing efforts to attract domestic and international investors to strategic state-owned assets.