TaQa Arabia Company intends to float its shares on the Egyptian Stock Exchange (EGX) during 2023, according to the company’s Chairman, Khaled Abu Bakr.

The Egyptian Cabinet is looking forward to offering shares in up to 32 companies for sale on the Egyptian Exchange (EGX), to strategic investors, or a mix of both, according to a Cabinet statement on February 8th.

The Egyptian Exchange’s (EGX) indices closed on the green zone on Thursday, with market capitalization reaching EGP 1.098 trillion.

Egypt intends to initiate the first stage of the initial public offering (IPO) programme under its new loan agreement with the International Monetary Fund (IMF) in March before the completion of the programme's first review, a source close to the cabinet’s discussions told Ahram Online.