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Monday, 25 July 2016

Gov’t taps NI Capital to manage float of state-owned companies

The Investment Ministry has retained NI Capital to advise on plans to float shares of state-owned companies on the EGX as well as international markets, Al Masry Al Youm reported. The programme aims at expanding the ownership base in public companies, Investment Minister Dalia Khorshid says, and that would improve transparency and strengthen corporate governance. NI Capital, a government-owned advisory firm, will engage on two fronts: the first will be a three-month planning stage during which they will partner with local investment banks to set up a preliminary list of companies that could be listed. In phase two, NI Capital will work with the investment banks to set timelines and strategy. Khorshid expects the program to bring in around USD 10 bn over the next three years, Al Borsa says.

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