Ayman Suleiman, Executive Director of the Sovereign Fund of Egypt, revealed that the fund is looking with investors to penetrate the field of managing airport and port services, which has become a tendency to enter the private sector to manage some of them, in conjunction with the state ownership document.
Suleiman added, during his participation in the eighth CEO conference 2022, that the fund seeks to reach partners capable of managing these services, indicating that there are discussions with some entities and investment funds that have actual experience in other countries. to convey their experiences.
On the other hand, the executive director of “Sovereign Egypt” revealed that the size of the targeted pre-IPO fund could reach $2 billion, pointing out that there are institutional investors who have the desire to enter companies before they are listed on the stock exchange.
He explained that the fund’s portfolio is being finalized, which works to accelerate the entry of capital for companies, by attracting institutional investors working to provide added value to maximize the value before offering.
Soliman noted that the “Egyptian Sovereign” intends to launch a new sub-fund specialized in the fields of the green economy, likely to be launched in 2023, through which it will seek to depend on sustainability and exploit the abundance available in the Egyptian market for new and renewable resources.
He pointed out that the size of the green fund will not be less than $1-1.5 billion, and may reach $2.5 billion during the coming period, revealing that work is being completed on agreements with investors for some projects to determine shares and investments accurately, to be launched after that.
The Executive Director of the Sovereign Fund of Egypt praised the great interest in the water desalination program, which is one of the largest programs in the world with a capacity of 8.8 million cubic meters per day. Its first phase only targets 3 million cubic meters.
He stated that there is a great demand and acceptance from entities to participate in the program, as about 200 companies have declared their interest, pointing out that the project is currently in the stage of opening technical envelopes, in cooperation with the Ministry of Housing through a joint committee, expecting to reach a clear agreement in 2023.