July 26, 2018 / 11:37 AM / 5 months ago

Egypt to raise 8-10 bln EGP by floating shares in state firms in FY 2018-19 -minister

CAIRO, July 26 (Reuters) - Egypt aims to raise 8-10 billion Egyptian pounds ($450 million to $560 million) from floating shares in state-owned companies in fiscal year 2018-2019, deputy finance minister Ahmed Kouchouk said on Thursday.

The government is launching an IPO programme that will offer shares in dozens of state-owned companies over the next three to five years in areas such as petroleum, services, chemicals, shipping, maritime and real estate to help boost state finances. ($1 = 17.8500 Egyptian pounds) (Reporting by Amina Ismail; Editing by Kevin Liffey)

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