Middle East Economic Survey
VOL. XLVIII
No 21
23-May-2005
EGYPT
Egypt To Launch First IPO In Petroleum Sector
Egyptian Oil Minister Sameh Fahmy announced on 5 May that 20% of the shares of the Sidi Kerir Petrochemicals Company (SIDPEC) will be sold in an IPO around mid-May. The decision was taken by the general assemblies of SIDPEC and the Egyptian Petrochemicals Company which agreed to sell initially 20% of SIDPECs capital, with 18% coming from the equity held by banks and insurance companies and...
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