Egyptian Exchange Marks Temporary Listing of Four State-Owned Companies

The Egyptian Exchange (EGX) held a ceremonial opening bell on Sunday to celebrate the temporary listing of four state-owned companies under the government's privatization program, marking another step in Cairo's efforts to expand the capital market and increase private-sector participation in the economy.

The newly listed companies include three affiliated with the petroleum sector, Engineering for the Petroleum and Process Industries (ENPPI), Egyptian Linear Alkyl Benzene Company (ELAB) and Petroleum Marine Services (PMS), alongside Maamoura for Construction and Tourism Development, a subsidiary of the Holding Company for Tourism and Hotels.

The ceremony, held at the EGX headquarters in Smart Village, brought together senior government officials, including Deputy Prime Minister for Economic Affairs Hussein Issa, Petroleum and Mineral Resources Minister Karim Badawi, Assistant Prime Minister and CEO of the State Ownership Unit Hashem El-Sayed, Financial Regulatory Authority Chairman Islam Azzam, EGX Chairman Omar Reda, company executives and representatives from Egypt's financial and business community.

The temporary listings are intended to pave the way for future public offerings as part of the state's broader asset monetization strategy. According to the exchange, ENPPI was listed with an issued capital of $357.1 million, ELAB with $210 million, and PMS with $120 million, while Maamoura for Construction and Tourism Development entered the market with an issued capital of EGP 250 million.

Speaking during the ceremony, EGX Chairman Omar Reda described the listings as a significant milestone in strengthening Egypt's capital market and enhancing its role as a platform for financing economic growth. He said the addition of major companies from the energy and tourism sectors would broaden the exchange's sectoral diversity, improve market depth, increase liquidity and provide investors with a wider range of investment opportunities.

Reda added that the move supports the government's long-term vision of using the capital market to finance economic development while promoting corporate governance, transparency and disclosure standards in line with international best practices.

Deputy Prime Minister Hussein Issa said the listings represent another important phase of the government's privatization program, which aims to maximize returns from state-owned assets, improve corporate governance, enhance competitiveness and expand private-sector ownership.

He noted that listing state-owned enterprises on the stock exchange strengthens transparency and regulatory oversight while improving operational efficiency, increasing market valuations and reinforcing investor confidence.

Petroleum Minister Karim Badawi said the inclusion of three petroleum companies marks the official launch of the first phase of the ministry's listing program, describing it as part of a broader strategy to unlock the value of public assets and increase private-sector participation in Egypt's economy.

Hashem El-Sayed revealed that the three petroleum companies represent the first tranche of a planned ten-company pipeline prepared by the ministry. He added that the government has already completed the temporary listing of 20 companies out of the 30 announced under the privatization program, covering both the public enterprise and petroleum sectors ahead of their eventual public offerings.

El-Sayed also stressed that the privatization initiative forms part of a comprehensive structural reform agenda developed in coordination with international partners, including the European Union, the International Monetary Fund and the World Bank, reflecting Egypt's commitment to improving economic efficiency and strengthening the country's investment climate.

Meanwhile, Financial Regulatory Authority Chairman Islam Azzam said the addition of petroleum companies would diversify Egypt's capital market and deepen investment opportunities, reaffirming the regulator's commitment to facilitating listing procedures and promoting stronger standards of governance, transparency and corporate disclosure.