Tuesday, May 24

Egyptian gov’t expected to start IPOs in September- regulator

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CAIRO — The head of Egypt’s Financial Regulation Authority said on Tuesday he expected the government to start its program of initial public offerings in September, and that two or three companies should be listed by the end of the year.

The country’s first offering of green bonds by private company is expected to take place on Wednesday with value of $100 million, FRA chairman Mohamed Omran told a press conference. (Reporting by Ehab Farouk Writing by Aidan Lewis Editing by Nadine Awadalla)