IPO WATCH- Heliopolis Housing & Development is considering the sale of another 30% of its shares under the government’s IPO program, a Public Enterprises Ministry official tells Al Shorouk. The move would bring the company’s total freefloat up to 57%, with the Holding Company for Building and Construction holding the balance. Heliopolis Housing is on the list of 23 state-owned companies set to IPO or list additional shares on the EGX. Finance Minister Amr El Garhy had previously said that the government would select the first five companies that will lead the IPO program by September or October.

Expect the program to attract investments from major foreign funds and institutions, the EGX’s Mohamed Farid tells Ahram Gate.