People walk in front of the Central Bank of Egypt's headquarters at downtown Cairo, Egypt, November 3, 2016. Picture taken Egypt, November 3, 2016. (REUTERS/Mohamed Abd El Ghany)
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Egypt announced Sunday the names of 23 state companies it will offer stakes in beginning this year, part of a plan to raise about 80 billion Egyptian pounds ($4.6 billion) through minority share offerings on the Cairo bourse.The government had said that it intended to sell shares in dozens of state companies to boost public finances and draw more investors to the Cairo exchange, but had previously only identified a handful of companies as candidates.The last time state-owned companies were listed on the exchange was in 2005 when shares of Telecom Egypt, the state's landline monopoly, and oil companies Sidi Kerir Petrochemicals and AMOC were floated.
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