Telecom Egypt to be sold in IPO

29 Nov 2005

According to the National Telecommunications Regulatory Authority, shares of state-owned operator Telecom Egypt will be sold for EGP14.80 (USD2.6) each in an initial public offering starting on 14 December. 20% of the company will be floated; Telecom Egypt employees will have 1% of the stake assigned to them at a discounted price.

Egypt, Telecom Egypt