Within the framework of the ongoing comprehensive reform program adopted by the government, a promising IPO program has recently been  announced as a means to expand  ownership base, raise addition...

  Within the framework of the ongoing comprehensive reform program adopted by the government, a promising IPO program has recently been  announced as a means to expand  ownership base, raise additional funds for Egyptian companies, to lure more investments and to optimize the State's assets. In its capacity as the committee rapporteur and in cooperation with the related ministerial group,  the Ministry of Finance went on studying potential  initial public offerings (IPOs) and State-owned companies in all their forms and legal nature. As an outcome, a comprehensive and promising program has been laid down, entailing offering public stocks  in more than 20 companies. The latter are varied between  being first-time listed companies and ones whom the government shall increase its offered shares in capital market. President Al-Sisi has lately reviewed the set program, giving directives to  embark on its launching and implementation in the offing. He also mandated that all the State's entities shall abide by the set plan and  mobilize all facilities to successfully carry out the program, given its importance in boosting investments and  increasing trading volume at the capital market. Total amount of offered stocks within the said IPO program is expected to worth 80 billion EGP approximately, and market value of offered companies to around 430 billion EGP. Offered shares of companies are decided to range between 15%-30% unless  public shares are lesser in value. The program is set to be implemented over 24 - 30 months, in attempt to expand ownership base, market capital and daily trading volume.   Following is a list of companies to be listed in the 1st phase of the IPO program:   Sector of Petroleum and Refining services -          ENPPI -          The Egyptian Drilling Company -          MIDOR- Middle East Oil Refinery -          ASORC- Assiut Oil Refining Co. -          AMOC- Alexandria Mineral Oils Company. Petrochemicals Sector: -          Sidi Kerir Petrochemicals -          The Egyptian Ethylene and Derivatives Company (ETHYDCO) -          Abu Qir Fertilizers -          "Al-Wadi for Phosphate  Industries and Fertilizers". -          EMETHANEX Co. -          ELAB Egyptian Linear Alkyl Benzene Logistic services: -          Alexandria Container & Cargo Handling Company -          PSCCHC- Port Said Container & Cargo Handling Company -          DCHC- Damietta Container & Cargo Handling Company Financial Services: -Housing and Development Bank- HDB - AlexBank - E-Finance -Misr Insurance Company   Real Estate Sector: -          Heliopolis co. for housing & development -          MADINET NASR for Housing & Development   Customer Service Sector: -          Eastern Co. S.A.E. Industry Sector: -          Egypt Aluminum Co. S.A.E.   In the same context, coordination shall be made among relevant companies in timely manner to carry out all required measures and abide by all applicable rules in IPO-related issues.