The Egyptian government plans to list shares of the National Company for Petroleum Products Marketing and Distribution/Wataniya and the National Company for Natural Water Packaging/Safi on the stock exchange later this month, according to two unnamed sources cited by Asharq Business with Bloomberg.
The listings will prepare the way for the sale of minority stakes in both companies, neither of which are currently publicly traded. The sources said the move was part of a broader privatization drive aimed at meeting the benchmarks set by the IMF.
The sources also indicated the state’s intent to finalize these divestment deals with private sector buyers during the third quarter of 2025. This timeline aligns with Egypt's fifth and sixth reviews under its International Monetary Fund/IMF support program, which are currently expected to conclude between September and October of the same year.
Earlier this year, local and Gulf investors from the UAE, Saudi Arabia, and Qatar submitted 11 offers to acquire military-affiliated companies Wataniya and Safi. However, a senior Finance Ministry official told Al Manassa at the time that none of the bids met the government’s valuation of the two firms.
Last year, Abu Dhabi National Oil Company/ADNOC withdrew from a potential acquisition of Wataniya due to missing ownership documentation, irregularities in tax records, and incomplete restructuring— all of which prevented the firm from meeting the standards required for sale.
The planned sales are part of a broader state divestment program launched in March 2023 to list shares in 40 state-owned enterprises across 18 economic sectors.
In June, PM Mostafa Madbouly announced plans to offer Egypt’s first airport for management and operation to international companies by the end of the year.
Speaking in December 2024, Madbouly said the government would open all airports to private sector participation and was ready to consider investor proposals to expand the national airline fleet.
The IMF previously cited delays in Egypt’s privatization commitments as a reason for merging the fifth and sixth program reviews.
