State considers adding more public enterprises to IPO program

The government might be including more public sector companies in its IPO program, Al Borsa reports, including subsidiaries of the Public Enterprises Ministry. The government intends to list a number of petchem companies on the EGX in the first phase of the program, including AMOC and Sidpec, as well as banks including Banque du Caire. The story includes the de rigueur recitation incomplete public-sector voodoo math the number of Ashraf El Sharqawy’s companies that are now profitable and how much revenues have grown.