Al Ahly Capital is planning to divest stakes in a number of its EGX-listed subsidiaries worth EGP 3 bn “in the coming period,” Head of Investment Karim Aboul Naga tells Al Mal. The move comes as part of the restructuring underway ahead of the government’s privatization program, which begins this month. Al Ahly holds shares in a number of companies on the roster, including Sidi Kerir Petrochemicals, Alexandria Minerals and Oils Company, and Abu Qir Fertilizers. The investment bank plans to use the proceeds of the stake sales to enter new investments in health, agriculture, and non-banking financial services.

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