CAIRO: Egyptian Minister of Planning and Economic Development Hala Al-Saeed said that the army is planning to put up two of its subsidiaries for sale at some point during the first quarter of the new year, in a move aimed at increasing the participation of the private sector in the economy.
In an interview with Egyptian TV, the minister added that the shares of the two companies may be offered at first to strategic investors, with the remaining percentages sold in an initial public offering.
“We will make a decision in the first quarter of this year. There are three other companies that I will not announce,” she said.