The government is preparing to unveil a new list of state-owned enterprises slated for listing on the EGX, in a renewed push to revive its privatization program while keeping a close eye on market liquidity, a senior government official tells EnterpriseAM, noting that the list should be finalized within a month.

A 20-company pipeline

The upcoming roster is expected to feature around 20 companies, including an additional stake sale of between 10% and 20% in Misr El Gadida for Housing and Development. The company holds a substantial land bank and several large-scale projects, positioning it as one of the more compelling long-term plays for both local and foreign investors.

Why this matters: Unlike strategic sales — which are often binary (the deal happens or it doesn’t) — EGX listings allow the state to offload smaller, incremental stakes while tapping into a massive pool of domestic retail liquidity.

Pharma is set to take center stage in the next wave of offerings, with the government planning to offer stakes in Misr Company for Pharmaceuticals, CID Pharmaceuticals, and El Nasr Pharmaceutical Chemicals, as the sector continues to benefit from resilient domestic and regional demand, the official told us.

The pipeline also extends to the mining and chemicals sectors, including El Nasr Mining, Misr Concrete Development, and Egyptian Chemical Industries (Kima). El Nasr Mining has already entered a production partnership with India’s Wilson and Egypt’s Al Safy Group to establish a JV that will build and operate a phosphate ore beneficiation plant.

Sinai Manganese’s future remains under discussion, given the company’s ambitious expansion plans, the official added. One scenario is floating a stake of up to 25% on the exchange, while another is pursuing a strategic transaction with a cornerstone investor, with a public listing remaining the fallback option should negotiations not materialize.

Structural reforms behind the push

In parallel, the government is coordinating with capital market and financial regulators to launch the EGX’s first-ever mining index — a step aimed at deepening the market and attracting sector-focused investors. At the same time, authorities are working on consolidating companies with similar activities into larger entities to enhance investment appeal, particularly in housing and real estate development, before offering stakes in these newly formed firms.

The IPO calendar is already heavy with anticipated offerings, including Banque du Caire and at least two companies affiliated with the Armed Forces’ National Service Projects Organization. Therefore, officials are expected to announce a revised timetable soon to ensure state offerings do not crowd out private-sector listings, our source told us.

The government is also awaiting new ministerial mandates from Prime Minister Mostafa Madbouly that would expand the powers of the state asset management committee. The expanded authority would allow the committee to oversee transfers, spin-offs, and mergers among public-sector companies, laying the groundwork for restructuring state assets ahead of their eventual listing.

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