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Egypt Names First Five State Companies to Float Shares Under Privatization Plan

Egypt on Tuesday announced the names of the first five state companies that will offer shares this year as part of a plan to boost public finances through minority offerings on the Cairo exchange. The companies are Alexandria Mineral Oils Company, Eastern Tobacco, Alexandria Container and Cargo Handling, Abou Kir Fertilizers, and Heliopolis Housing, a cabinet statement said. The state owns swathes of Egypt’s economy, including three of its largest banks, much of its oil industry as...

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