The Egyptian Cabinet has agreed to prepare both Wataniya Petroleum Company and the National Company for Producing and Bottling Water (Safi), the subsidiaries of the National Service Projects Organization (NSPO), for listing on the Egyptian Exchange (EGX).
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In 2020, the Sovereign Fund of Egypt (TSFE) picked Wataniya and Safi to be offered for the private sector as a first phase, with the initial public offerings (IPOs) to be launched eventually on the EGX.
Prime Minister Mostafa Madbouly previously stated that the government seeks to float stakes in 10 state-owned companies on the EGX before the end of 2022.
