{"id":629856,"date":"2018-04-03T04:06:42","date_gmt":"2018-04-03T04:06:42","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/03\/two-state-companies-expected-to-ipo-this-year-farid\/"},"modified":"2018-04-03T04:06:42","modified_gmt":"2018-04-03T04:06:42","slug":"two-state-companies-expected-to-ipo-this-year-farid","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/03\/two-state-companies-expected-to-ipo-this-year-farid\/","title":{"rendered":"Two state companies expected to IPO this year. -Farid"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>IPO WATCH- Two state-owned companies expected to IPO this year. <\/strong>EGX head Mohamed Farid reportedly said he expects two state-owned companies to complete their initial public offerings this year, <a href=\"https:\/\/www.youm7.com\/story\/2018\/4\/2\/%D8%B1%D8%A6%D9%8A%D8%B3-%D8%A7%D9%84%D8%A8%D9%88%D8%B1%D8%B5%D8%A9-%D9%8A%D8%AA%D9%88%D9%82%D8%B9-%D8%B7%D8%B1%D8%AD-%D8%B4%D8%B1%D9%83%D8%AA%D9%8A%D9%86-%D8%AD%D9%83%D9%88%D9%85%D9%8A%D8%AA%D9%8A%D9%86-%D8%AC%D8%AF%D9%8A%D8%AF%D8%AA%D9%8A%D9%86-%D8%AE%D9%84%D8%A7%D9%84-%D8%A7%D9%84%D8%B9%D8%A7%D9%85-%D8%A7%D9%84%D8%AC%D8%A7%D8%B1%D9%89\/3725094\">according to Youm7<\/a>, which is the only influential newspaper to note the statement. Farid also expects a <a href=\"https:\/\/enterprise.press\/stories\/2018\/03\/19\/govt-unveils-the-lineup-for-the-state-ipo-program\/\">few of the nine listed companies<\/a> on the state\u2019s IPO program to offer additional shares on the EGX before the year is up, without specifying which. Finance Minister Amr El Garhy <a href=\"https:\/\/enterprise.press\/stories\/2018\/03\/21\/government-to-sell-stakes-in-4-6-companies-on-the-egx-in-2018\/\">had said last month<\/a> that the government plans to offer shares of 4-6 companies on the EGX in 2018, but had not made a distinction between new listings and stake sales in companies that are already listed. These would include a chunk of Bank of Alexandria and 24% of oil services outfit Enppi. El Garhy did also note that the IPO program\u2019s schedule and lineup is \u201cflexible\u201d and \u201ccould be amended\u201d depending on how ready some companies are compared to others. He had also said that the government intends to select the first four or five companies that will list under phase one of the IPO program by September or October.<\/p>\n<p><strong>Up to six private sector companies will IPO this year:<\/strong> Farid, who headlined Pharos Holding\u2019s In Search for Egypt Alpha Conference, which kicked off yesterday, noted that the EGX will see a total of five or six IPOs this year. Farid also reiterated some of the bourse\u2019s upcoming plans, including launching new financial instruments including derivatives. He also said that the EGX was working with companies to improve corporate governance and is working on tightening disclosure regs.<\/p>\n<p><strong>Also speaking at the conference was our friend Pharos Holding Chairman and CEO Elwy Taymour<\/strong>, who lauded the government\u2019s reform drive and the work of regulators, saying they had contributed to the strong performance of the EGX so far in 2018 and bolstered investor appetite. He added that Pharos hoped to play its part in bolstering the stock market by holding the conference, which will offer a platform to investors and company representatives. The conference had brought together 45 companies, banks, and finance institutions, according to <a href=\"https:\/\/ent.news\/2018\/4\/1015.pdf\">a Pharos statement (pdf)<\/a>.<\/p>\n<p><strong>The conference\u2019s opening day also saw a panel discussion on how state owned companies can be made more efficient<\/strong>, which brought together the CEOs of the Chemical Industries Holding Company and the Holding Company for Metallurgical Industries. A second panel on Egypt\u2019s emerging status as a global energy hub brought together senior officials from the EGPC and EGAS and was moderated by Pharos\u2019 Head of Research Radwa El Swaify.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>IPO WATCH- Two state-owned companies expected to IPO this year. EGX head Mohamed Farid reportedly said he expects two state-owned companies to complete their initial public offerings this year, according to Youm7, which is the only influential newspaper to note the statement. Farid also expects a few of the nine listed companies on the state\u2019s [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":629857,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-629856","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"1f827386-521a-493e-81ab-147d9eb26740","order":"0","is_powered_by":true,"section_story_id":"2c1e142d-86b8-4938-a3ef-538bd3c01666","story_type":"1","photo_url":"https:\/\/ent.news\/2017\/10\/2110.jpg","photo_position":"above","related_issue":[629846],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Two state companies expected to IPO this year. -Farid - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/03\/two-state-companies-expected-to-ipo-this-year-farid\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Two state companies expected to IPO this year. -Farid\" \/>\n<meta property=\"og:description\" content=\"IPO WATCH- Two state-owned companies expected to IPO this year. EGX head Mohamed Farid reportedly said he expects two state-owned companies to complete their initial public offerings this year, according to Youm7, which is the only influential newspaper to note the statement. Farid also expects a few of the nine listed companies on the state\u2019s [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/03\/two-state-companies-expected-to-ipo-this-year-farid\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-04-03T04:06:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2017\/10\/2110.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/03\/two-state-companies-expected-to-ipo-this-year-farid\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/03\/two-state-companies-expected-to-ipo-this-year-farid\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Two state companies expected to IPO this year. -Farid\",\"datePublished\":\"2018-04-03T04:06:42+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/03\/two-state-companies-expected-to-ipo-this-year-farid\/\"},\"wordCount\":436,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/03\/two-state-companies-expected-to-ipo-this-year-farid\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2017\/10\/2110.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/03\/two-state-companies-expected-to-ipo-this-year-farid\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/03\/two-state-companies-expected-to-ipo-this-year-farid\/\",\"name\":\"Two state companies expected to IPO this year. -Farid - 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Farid did not say which companies he sees making their EGX\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/12\/198.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":634351,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/14\/egx-boss-expects-healthy-ipo-pipeline-in-2018\/","url_meta":{"origin":629856,"position":1},"title":"EGX boss expects healthy IPO pipeline in 2018","author":"enterpriseam admin","date":"14 January 2018","format":false,"excerpt":"IPO WATCH- Healthy pipeline of IPOs for 2018, Farid says. Eight companies have reportedly begun procedures to list on the EGX, said bourse boss Mohamed Farid. Among them are companies in the real estate and tourism sector, he added without naming names. Up to six companies, primarily in petrochemicals and\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":636226,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/12\/27\/14-real-estate-tourism-companies-gearing-up-to-ipo-in-2018-farid\/","url_meta":{"origin":629856,"position":2},"title":"14 real estate, tourism companies gearing up to IPO in 2018 -Farid","author":"enterpriseam admin","date":"27 December 2017","format":false,"excerpt":"IPO WATCH- Some 14 real estate and tourism companies are preparing to offer shares on the bourse next year, EGX Chairman Mohamed Farid told the press yesterday, Al Borsa reports. The 14 IPO contenders are subsidiaries of eight larger companies, according to Farid, who added that another six companies in\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":590646,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/30\/mohamed-farid-aramco-has-no-direct-impact-on-egx\/","url_meta":{"origin":629856,"position":3},"title":"Mohamed Farid: Aramco has no direct impact on EGX","author":"enterpriseam admin","date":"30 December 2019","format":false,"excerpt":"Saudi Aramco\u2019s IPO has had no direct impact on the EGX, exchange boss Mohamed Faridsaid at a symposium organized by Youm7 to discuss raising listings on the bourse. Aramco had only an indirect impact by changing companies\u2019 relative weight in global market indices such as the MSCI Emerging Markets Index.\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/9\/Mohamed-Farid-EGX-1600.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":562307,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/19\/are-we-in-for-an-ipo-heavy-2h2021\/","url_meta":{"origin":629856,"position":4},"title":"Are we in for an IPO-heavy 2H2021?","author":"enterpriseam admin","date":"19 May 2021","format":false,"excerpt":"The Egyptian Exchange could see as many as five more companies offer shares for sale before the year is out, EGX Chairman Mohamed Farid told CNBC Arabia, confirming a statement he made last month (watch, runtime: 1:23). According to Farid, two or three companies could offer their shares on the\u2026","rel":"","context":"In &quot;IPO&quot;","block_context":{"text":"IPO","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/5\/148.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":568583,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/28\/foreigners-net-buyers-of-egyptian-securities-in-2019-more-from-mohamed-farid\/","url_meta":{"origin":629856,"position":5},"title":"Foreigners net buyers of Egyptian securities in 2019 + more from Mohamed Farid","author":"enterpriseam admin","date":"28 January 2020","format":false,"excerpt":"Strong appetite for Egypt\u2019s fixed-income assets meant that net foreign purchases of Egyptian securities came in at EGP 42.3 bn last year, despite equities seeing EGP 1.7 bn in net outflows, EGX boss Mohamed Farid said in an interview yesterday. This trend isn\u2019t exclusive to Egypt Farid says. Foreign investors\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/1\/717.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/629856","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=629856"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/629856\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/629846"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/629857"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=629856"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=629856"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=629856"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=629856"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=629856"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}