Egypt privatises

Egypt privatises

EGYPT IS planning a mass privatisation programme that will see it selling shares in public utility companies with a combined value of pounds 50 billion. The chairman of Egypt's Capital Market Authority, Abdel Hamid Ibrahim, said yesterday that the companies would come to market "in the coming period" but did not give a timetable. Reports said share offerings were already being prepared for electricity companies partly with the aim of enlivening trade on the depressed Cairo stock exchange.