Hussein Eissa, Deputy Prime Minister for Economic Affairs, rang the opening bell at the Egyptian Exchange (EGX) on Sunday to mark the temporary listing of four state-owned companies under the government’s state ownership programme.
The move underscores the state’s commitment to enhancing the efficiency of public enterprises, broadening ownership, and stimulating Egypt’s capital market.
The ceremony was attended by Karim Badawi, Minister of Petroleum and Mineral Resources; Hashem El Sayed, Assistant to the Prime Minister and CEO of the State-Owned Companies Unit; Islam Azzam, Chairperson of the Financial Regulatory Authority (FRA); Omar Radwan, Chairperson of the EGX; and the heads of the newly listed companies.
The listings included three petroleum sector firms—Engineering for the Petroleum and Process Industries (ENPPI), Egyptian Linear Alkyl Benzene Company (ELAB), and Marine Petroleum Services Company (MPS)—alongside El Maamoura for Construction and Tourism Development, a subsidiary of the Holding Company for Tourism and Hotels.
In his remarks, Eissa said the step represents a milestone in the state ownership programme, which aims to maximise returns from public assets, strengthen corporate governance, improve competitiveness, and expand private sector participation. He noted that listing on the EGX enforces transparency and disclosure standards, subjects companies to market oversight, and enhances investor confidence.
Eissa added that the programme covers distinguished companies across multiple sectors, with ten petroleum firms slated for listing—three of which have now completed temporary procedures. He stressed that the initiative will diversify listed sectors, broaden ownership, and attract both domestic and foreign investment, supporting Egypt’s sustainable growth agenda.
Minister of Petroleum Karim Badawi described the listings as a strategic step to maximise asset value, strengthen governance, and attract investment into the petroleum sector. He said the three companies are national champions and leaders in their fields, and their listing marks the first stage of a broader plan to offer additional firms.
Hashem El Sayed noted that 20 of the 30 companies announced under the programme have already completed temporary listing procedures, paving the way for public offerings. These include companies from both the public business and petroleum sectors.
FRA Chairperson Islam Azzam highlighted the importance of adding petroleum companies to the exchange, saying it boosts market diversification. He affirmed FRA’s commitment to facilitating listing procedures and promoting a culture of disclosure, transparency and governance in line with international best practices.
EGX Chairperson Omar Radwan said the listings expand the base of traded companies, deepen the market, and create new investment opportunities, strengthening the exchange’s role in supporting Egypt’s economy.
The ceremony concluded with the ringing of the opening bell, symbolising a new chapter for the listed companies under the state ownership programme—aimed at maximising asset value, stimulating investment, and enhancing competitiveness across the Egyptian economy.
