Egypt’s plans to raise $4.55bn from the privatization of 23 state firms, announced in March, have been delayed until next year (MEES, 23 March).
Egyptian daily news portal Enterprise, citing senior government officials, says the program has been pushed back to next year and could be delayed until July, at the start of the next financial year. The source says the government is “fully committed to the program” but current market conditions are not favorable and after consulting with investment bankers, has decided to delay any IPO. (CONTINUED - 86 WORDS)