CAIRO: Egypt s government will delay listing a part of state-owned pharmaceutical firm Chemical Industries Development to conduct a review of the planned public offering, Egypt s official MENA agency quoted Investment Minister Mahmoud Mohieddin as saying on Monday. As much as 35 percent of the company was expected to be offered on the Egyptian stock market as part of the government s privatization drive. Egypt s official Middle East News Agency (MENA) quoted Mohieddin as saying CID was ready for its listing, but the adviser on the initial public offering wanted to review the process before the listing went ahead.
He gave no time frame about when the listing could take place. Ministry officials could not be reached for comment.
