Egypt: "safe haven par excellence." (managing privatization in Egypt)

Article Abstract:

The Egyptian government has undertaken a detailed investigation of the reasons for a series of failed initial public offers of public enterprises. This has prompted a new stage in the country's privatization process, with the government seeking assistance from investment banks and financial institutions for the promotion and underwriting of forthcoming privatizations. The government has now short-listed firms seeking to provide advisory services to 17 public-sector holding companies. These holding companies have 216 affiliates to be privatized by 2000.

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Egypt keeps up the pace of sell-offs

Article Abstract:

There have been a number of privatisations in Egypt recently. These include Nile Match and Prefabricated Houses, which offered 1 million shares initially in order to raise $7.94 million, and Nasr Dried Agricultural Products, which offered 320,000 shares and saw its offer subscribed 96 times. Misr Oil and Soap offered 2.4 million shares, with 1.8 million being made available to individuals, while the offer of 1.5 million new shares in Egyptian American Bank was subscribed 14.8 times.

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