Middle East Economic Survey

VOL. XLVIII

No 24

13-June-2005

egypt

Government Launches Sidpec Privatization

The Egyptian government launched its first-ever oil industry privatization scheme on 8 June with an IPO for 20% of the Sidi Kerir Petrochemicals Company (Sidpec). The IPO is for 21mn shares that will be offered in two tranches. The first tranche is a public offering of 12.6mn shares that will be available to retail investors in allotments of up to 1,000 shares per subscriber. The second...