NO. 30


Financial and Banking News

Capital Markets

Egyptian Employees To Be Offered 10% Of Shares In 71 State Companies

Egypt's Minister of Labor, Mr. 'Atif 'Ubaid, has listed 71 state-ownedcompanies in which employees will be offered 10% of the shares. Mr. 'Ubaid toldthe Cairo weekly Al-Ahram Al-Iqtisadi that the market value of the shares beingmade available was Eœ3.5bn ($1bn). Employees will be given five to ten years inwhich to pay for share purchases, and the shares...